CHINA GCL GROUP NEGOTIATING DEAL TO ESTABLISH A SOLAR PANEL COMPLEX IN EGYPT

China GCL making plans to construct Solar Panel complex in Egypt.

China Golden Concord Holding Limited (GCL) Group is negotiating a deal to construct a solar panel complex in Egypt. This complex negotiation with the Ministry of Military Production has been ongoing for two month now.

The group has also agreed deals with several banks for funding the project. But GCL who are seeking for a longterm investment plans to announce the financial plans in a different time.

Investment and Development director for GCL, Allen Gai said ”They will not be implementing the solar panel alone. He also said they will seek partnership and concluding contracts that will satisfy all the parties involved.”

According to him, workers will be trained for the production line and will be offered engineering consultancy. This will enable them to work and maintain the factories for solar panel production.

Meanwhile, according to the Ministry, the industrial solar complex in Egypt will be established in over five stages. It will start from extracting pure Egypt quartz through manufacturing metal and poly-silicon.

The Ministry will also seek to benefit from the expertise of the Chinese company to localize the technology of establishing the solar panels. This will help in covering the local market needs as well as exporting to other African and Arab nations.

Egypt has collected a grant worth KWD 200,000 from Kuwaiti Fund for Arab Economic Development so as to complete the feasibility studies of the solar panel complex.

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