China's Befar Group has begun construction on a 500-million-U.S.-dollar project to produce chlor-alkali in Egypt's Suez Economic and Trade Cooperation Zone (TEDA), the Suez Canal Economic Zone (SCZone) authority said on Tuesday.
The facility, described as Egypt's first green chemical plant, aims for an annual capacity of 100,000 tonnes and will be built on a 400,000-square meter site in two phases, the SCZone said in a statement following a foundation stone ceremony.
The first phase, covering 200,000 square meters, is scheduled for completion within 18 months, the authority added. The project is expected to create around 800 jobs.
SCZone Chairman Waleid Gamal El-Dein, who attended the ceremony, highlighted the project's reliance on diverse clean energy sources and its alignment with Egypt's push towards a green economy.
"This project opens up broad horizons for complementary industries and enhances Egypt's ability to secure its needs for strategic products," Gamal El-Dein was quoted as saying in the statement.
Befar Group Senior Vice President Cai Yinghui said that the company would leverage Egypt's energy, transport, and policy advantages, aiming to develop a "new energy plus chemical industry" model.
Established in 1968, Befar Group is a comprehensive chemical enterprise whose products are exported to more than 100 countries and regions worldwide, according to the group's official website.
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