Guide Group to Invest $63.9 Million in EV and Battery Complex in Sokhna, Egypt
Guide Group has announced a $63.9 million investment to develop an integrated industrial complex in Sokhna, Egypt, focusing on electric vehicles, lithium-ion batteries, and reverse osmosis membranes. The project, located within the Suez Canal Economic Zone, will span 70,000 square meters and is expected to create around 1,000 direct jobs, progressing through three phases of development.
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Egypt's Suez Canal Economic Zone (SCZONE) has signed an agreement with Guide Group to develop a $63.9 million integrated industrial complex in Sokhna for electric vehicles (EV), lithium-ion batteries, and reverse osmosis (RO) membranes. The project will occupy a 70,000-square-metre site within Orascom Industrial Parks and is projected to create approximately 1,000 direct jobs.
The development will occur in three phases: the first phase, with a $13.6 million investment, will focus on manufacturing two-, three-, and four-wheeled electric vehicles. The second phase will establish lithium-ion battery production lines for in-house and external demand, while the third phase will focus on manufacturing RO membranes to promote environmental sustainability.
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