Xinyi Glass Invests $700 Million in Solar Panel Glass Facility in Egypt
China’s Xinyi Glass is investing $700 million to build a solar panel glass manufacturing facility in Egypt’s SCZone, producing 1.5 million tons of glass and 1.1 million tons of silica sand annually. Prime Minister Madbouly supports the project, aiming to boost Egypt’s renewable energy sector and reduce reliance on imports.
Xinyi Glass, a Chinese company, has announced a substantial investment of $700 million to establish a solar panel glass manufacturing facility in the Suez Canal Economic Zone (SCZONE) in Egypt. This project is planned to unfold in two phases, with an anticipated production capacity of 1.5 million tons of solar panel glass and 1.1 million tons of high-purity silica sand annually—a vital raw material for solar glass production.
Prime Minister Moustafa Madbouly has expressed robust support for this initiative, underscoring the necessity for immediate action. He has instructed relevant authorities to ensure the provision of essential utilities and infrastructure to expedite the plant’s development and operationalization.
Currently, Xinyi Glass is working to obtain regulatory approvals required before construction can begin. This project is crucial for enhancing Egypt’s renewable energy and industrial sectors. Should the facility become operational, Xinyi Glass is keen on extending its partnership with the Egyptian government to potentially establish further glass manufacturing operations in the country.
The Egyptian government is actively pursuing local manufacturing of solar power components as part of its overarching renewable energy strategy. In October, authorities identified solar cells as one of twelve strategic products earmarked for domestic production, emphasizing the importance of bolstering the national solar energy sector. The local manufacturing initiative aims to lessen import dependence, stimulate economic growth, and enhance Egypt’s stature in the global renewable energy landscape.
In summary, Xinyi Glass’s $700 million investment in solar panel glass manufacturing signifies a major advancement for Egypt’s renewable energy sector. The project promises substantial production capacity and aims to establish Egypt as a pivotal player in the regional glass manufacturing industry. With government backing and a focus on local manufacturing, Egypt is poised to strengthen its renewable energy supply chain and economic growth.
Original Source: www.egypttoday.com
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