The Chinese company Hisense and the UAE-based FBB Tech layed the foundation stone for a new display production project in Suez Canal Economic Zone ( SCZone).
The project covers an area of 110,000 square meters with a production capacity of 2.5 million units.
The first phase of the project is set to commence with a total investment of $38 million, as part of the broader $100 million investment plan.
The initiative aims to export products to over 100 countries.
This was in the presence of Walid Gamal El-Din, Chairman of SCZONE, along with several senior officials from the authority, attended the foundation stone laying ceremony.
Amir Al-Hourani, Executive Vice President of Hisense for the Middle East and North Africa, stated that construction is expected to be completed by the end of 2025, followed by trial production.
He also highlighted that more than 70% of the production will be designated for export, particularly targeting African countries, the Gulf region, and European markets.
The project seeks to capitalize on Egypt’s strategic location and its trade agreements with regional and international partners.