220 million dollars for the construction of a solar energy industrial complex in the Suez Canal

Egypt signed on Wednesday a land usufruct contract worth 220 million dollars with investors from the UAE, Bahrain, and China, to establish a comprehensive industrial complex in the Suez Canal Economic Zone.

The project spans an area of 200,000 square meters and includes the production of 2 gigawatts of solar cells and 2 gigawatts of solar panels, along with energy storage systems.

This step comes as part of Egypt's efforts to localize the renewable energy industry and enhance the position of the Suez Canal Economic Zone as an industrial and investment hub in the fields of clean energy. The project is part of a broader government trend towards supporting the green economy and attracting international investments in strategic sectors, in line with sustainable development goals and Egypt's Vision 2030.