CHINT, engazaat, Suez Canal Economic Zone Sign Agreement to Develop Cleantech Industrial Park Project
CHINT signed its second agreement in the sustainable field during the United Nations Framework Convention on Climate Change (UNFCCC) 28th Conference of the Parties (COP28) in Dubai, United Arab Emirates.
According to the agreement, under the patronage of the Suez Canal Economic Zone (SCZONE), CHINT will work with engazaat, Egypt's first independent power and water developer and operator (IPWP), to finance, develop, build, and run the Cleantech park.
This strategic business partnership aims to develop and construct a net zero world-class Cleantech Industrial Park project on a total Surface area of 2 million sqm inside the Suez Canal Economic Zone in Egypt.
The collaboration between CHINT, engazaat and SCZONE aligns with the strategic direction of Egypt Vision 2030 and UN SDG goals towards the localization of cleantech, renewable energy, and water technologies.
This partnership is the result of a recent high-level visit by SCZONE and engazaat to China, paving the way for CHINT factories and Research and Development centers to introduce their world-class technologies to Egypt.
Mr Jeff Cai , General Manager of CHINT West Asia and Africa, said: "With its full industry chain advantages, resilient supply chain, and solution service capabilities, CHINT is committed to making the Cleantech Industrial Park Project greener, energy-efficient and more sustainable."
“We are pleased to join forces with CHINT on the Cleantech Industrial Park project in an endeavor to localize the world’s industries in new energy, power, water and cleantech within the SCZONE,” said Muhammad El Demerdash, CEO and co-founder of engazaat.
“We leverage on the SCZONE strategic location and special investor friendly jurisdiction along with our cleantech utility development expertise to deliver a state of the art, demand driven cleantech industry park.”
Mr Waleid Gamal Eldien, Chairman of the General Authority for the SCZONE said: “It is our pleasure to collaborate with CHINT and engazaat to develop and deliver a state-of-the-art cleantech industrial zone in Egypt that will support Egypt’s vision 2030 to reduce carbon footprints, boost a high-speed growth enabler for investors joining the SCZONE community.”