Chinese firms plan to launch $2.75 bln industrial projects in Egypt's SCZONE

The SCZONE signed an LOI with China-Africa TEDA Investment for the development of an additional industrial zone in the TEDA Cooperation Zone located in Ain Sokhna. The investments are expected to total more than $2 billion.

China-Africa TEDA Investment requested the allocation of three square kilometres of land for the project.

Iron pipes factory
 

The SCZONE signed a framework agreement with China-Africa TEDA Investment and Xinxing company to build a ductile iron pipes factory.

The new factory is planned to annually produce 250,000 tons of ductile iron pipes and products for drinking water and wastewater networks,  desalination plants, and other purposes.

80 percent of the factory's output is planned for foreign export, targeting around $250 million worth of sales annually.

The first phase of the pipe factory is projected to attract $145 million in investments and create 600 jobs.