Egypt’s Suez Canal Economic Zone signed a number of contracts with Chinese industrial companies to develop textile, auto parts and power transformer projects inside the joint China-Egypt TEDA Suez Economic and Trade Cooperation Zone (TEDA Egypt).
The total volume of investment amounts to USD 60 million, according to a statement issued by the Suez Canal Economic Zone on Wednesday.
The signing coincides with the 15th anniversary of the launch of the TEDA Egypt – the most successful partnership in the economic zone, it said.
The newly-signed contracts include one to launch “China Construction Curtain Wall” with investments of USD 10 million, Aoxiu textile project – USD 25 million, Dewei Egypt for textiles – USD 20 million, Zaiyu auto parts – USD 2 million, and Kang Dewei – USD 3.2 million, The contracts raised the total value of TEDA Egypt investments to USD 1.6 billion.
Source: Kuwait News Agency