Cairo – Mubasher: China State Construction Engineering Corporation (CSCEC Group) has inaugurated a steel structures factory in Egypt with CNY 87.40 million ($12.06 million) in investments.
Located on 27,039 square meters, the new factory will have a production capacity of 25,000 tonnes annually, creating 200 jobs, according to an official statement.
In the upcoming period, we can expect to see increased Chinese investments within the framework of the expansion of the Teda-Egypt zone and other zones within the Suez Canal Economic Zone (SCZONE), according to Walid Gamal El-Din, Chairman of the SCZONE.
Earlier in April, Egyptian and Chinese companies inked 14 agreements to launch various projects in Egypt.
