Hussein explained that these investments would primarily focus on the infrastructure and renewable energy sectors.
JA Solar will lead the study phase, with investments reaching $138 million for the solar cell manufacturing facility and $75 million for the solar panel factory, which will cater to domestic demand.
This partnership aims to strengthen clean energy infrastructure in both countries, reducing long-term costs and enhancing energy security.
Tawfik revealed that the company plans to reclaim 2,000 acres from its existing portfolio in Egypt over the next two years, with an investment of EGP 400 million.
Chairman of the ACUD, Khaled Abbas, stated that under the MoU, the parties agreed to study the establishment of a free zone spanning approximately 500 acres within the allocated land.
