Egypt to sign Suez Canal economic zone contracts with Chinese firms next week
Egypt will be signing next week several contracts with Chinese firms to invest in Suez Canal's economic zone, the Head of the General Authority for Suez Canal Economic Zone (SCZone), Ahmed Darwish, said. The economic zone would witness Chinese investments in textile manufacturing field in addition to other mega businesses in Ain Sohkna, he added. Darwish expects to sign an agreements with a number of Chinese companies in the coming weeks, including Shandong Ruyi Group, which plans to plant 150K feddans of cotton and build 1mn manufacturing facilities in Egypt. The announcement came after meetings between representatives of Shandong Ruyi, business park developer TEDA and Prime Minister Sherif Ismail.
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