China’s Henan Zhongfu plans $2B aluminium plant in Egypt’s SCZone

Henan Zhongfu Industrial is planning to invest about USD 2 billion to build an aluminium production plant in Egypt, according to an official statement.

The plan was discussed during a meeting in Cairo between company chairman Cui Hongsong and Prime Minister Mostafa Madbouly. Officials from the Suez Canal Economic Zone (SCZone) were also present.

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The plant will be built in East Port Said inside the SCZone. The project will cover more than 1 million square metres and is expected to create around 3,000 jobs.

Cui said the investment forms part of the company’s broader international expansion strategy and reflects its confidence in Egypt’s industrial environment, as well as the SCZone’s role as a key manufacturing hub.

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According to the SCZone authority, the plant is expected to increase local aluminium production and reduce the need for imports. It will help Egypt increase exports to markets in Africa, the Middle East, and Europe.

Henan Zhongfu Industrial makes aluminium products for packaging, electric vehicles, electronics, aviation, and rail. It produces about 690,000 tonnes of processed aluminium and 750,000 tonnes of electrolytic aluminium each year. The company sells its products and has profitable connections in around 45 countries.

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The current project is a step in a larger trend of Chinese companies investing in Egypt. They are also investing in textiles, cars, steel, energy equipment, and chemicals.

Egypt is now attracting prime investment, mainly because of its location and access to different markets. It links Africa, the Middle East, and Europe, which helps companies export goods more easily.