On March 27, 2024, in the presence of Egyptian Prime Minister Mustafa Madbouly and several senior officials, Xinxing Ductile Iron Pipes Co., Ltd. and Egypt-Teda Sezone Development Company officially signed a land purchase agreement for the expansion area of the China-Egypt TEDA Suez Economic and Trade Cooperation Zone.
This move not only signifies Xinxing Pipes’ formal entry into Egypt’s TEDA Cooperation Zone but also indicates a further deepening of economic and trade cooperation between China and Egypt.
According to the agreement, Xinxing Pipes will purchase land in the TEDA Cooperation Zone in Egypt to construct its first overseas ductile iron pipe production base. The planned area covers approximately 270,000 square meters and is expected to house a modern factory with the capacity to produce a full range of centrifugally cast ductile iron pipes and related products.
The project aims to produce 250,000 tons of ductile iron pipes annually, with production capacity for cast pipes with diameters above DN1200. Its products will mainly serve regions including Egypt, the Middle East, Africa, and Europe, covering various fields such as water supply, drainage, water conservancy, and desalination.
As a global leader in ductile iron pipe manufacturing, Xinxing Pipes’ overseas expansion will not only fill the industrial gap in Egypt’s ductile iron pipe sector but also significantly enhance Egypt’s domestic pipeline research and supply capabilities.
The project is expected to involve an investment of 1 billion RMB, creating over 500 job opportunities locally and potentially generating annual sales revenue exceeding $200 million.
Prime Minister Madbouly emphasized the significant importance of the successful implementation of this project in advancing Egypt’s industrialization. He stressed that the Egyptian government will continue to support the development of the TEDA Cooperation Zone and encourage more Chinese enterprises to invest in Egypt, thereby propelling Sino-Egyptian cooperation to new heights.
The project leader of Xinxing Pipes in Egypt stated that the company will actively promote the construction of international projects and strive to make Xinxing Pipes a leading enterprise in global pipe research, manufacturing, and comprehensive pipeline services.
The signing of the land purchase agreement not only marks a new stage in Xinxing Pipes’ development in Egypt but also injects new vitality into the economic, industrial, and technological cooperation between China and Egypt. With the gradual advancement of the project, Xinxing Pipes is expected to become a significant force in Egypt’s and even the global pipeline industry.