Egypt’s SCZone, Chinese companies sign $487 million deals in energy, textiles, petrochemicals, bromine in Ain Sokhna

Chairman of the Suez Canal Economic Zone (SCZone) Walid Gamal El Din announced the signing of $487 million agreements and contracts between a number of Chinese companies and the industrial developer TEDA-Egypt for establishing new projects in the industrial zone of Al Ain Al Sokhna.

This came on the fringe of the SCZone's delegation current promotional tour in China where they participated in a conference for partners of the Belt and Road initiative organized by TEDA-Egypt in the Chinese city of Hangzhou. SCZone delegation also met with officials of Tianjin city in the presence of 270 representatives of more than 50 Chinese companies operating in the various industrial fields.

In a statement on Friday, Gamal El Dien said TEDA-Egypt signed an agreement with China's Hidier Group for establishing several projects in the fields of energy, construction and operation of industrial facilities.