Egypt inaugurates industrial mega projects in the Suez Canal Economic Zone
Madbouly noted that his visit to the zone shows the state’s keenness in encouraging and attracting such projects to propel investments and support the national economy.
The first project visited by Madbouly was the Egypt FanYang factory for textile printing and dyeing, which is part of the China-Egypt TEDA cooperation zone near Ain Sokhna.
The project aims to produce 30,000 tons of clothing fabrics, blankets and home furnishings annually with a value of $150 million, according to the factory’s owner.
The factory cost $60 million and spans an area of 120,000 square metres, he added.
The opening comes within the framework of advancing economic and trade cooperation between China and Egypt and aims to establish a domestic textile industrial zone in Egypt, the factory owner affirmed.