- July 12, 2023
- Posted by: Ahmed Abed
- Category: 2023, EN
On the sidelines of the 15 years celebration for the cooperation with “TEDA – Egypt”, Mr. Waleid Gamal El-Dien, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), witnessed, this morning, the signing of several final contracts within the scope of the industrial developer “TEDA-Egypt” in Sokhna integrated zone for projects in the textile industry, auto parts, and electric power transformers. This comes after the successful promotional tour carried out by the SCZONE’s delegation in China last May. The celebration was held in the presence of Mr. / Chang Chuyang, the Chinese Minister of Plenipotentiary Trade, and Mr. Ma Lu, Managing Director of the China Development Bank.
The final contracts signed today included the China Construction Curtain Wall project, with investments estimated at $10 million on an area of 27,000 square meters, a contract with Deyu (Egypt) for textile printing and dyeing, with investments estimated at $20 million, on an area of 20,000 square meters, contract with Zaiyu auto parts with an investment of $2 million on an area of 20,000 square meters, a project for Kang Dewei with an investment of $3.2 million on an area of 20,000 square meters, and a contract with Aoxiu Textile Company with an investment of $25 million on an area of 36067.8 square meters.
“The new projects are ramifications of the continuous work and the strategic partnership between SCZONE and the Chinese investments, as TEDA-Egypt has made investments worth $1.6 billion and witnessed the presence of about 140 companies during the last period. There are many opportunities to double these investments, especially after the SCONE’s delegation tour in China, last May, which witnessed the signing of several agreements, as well as an exchange of the visions that emphasized a promising future and new opportunities for this partnership.” Mr. Waleid Gamal El-Dien declared.
It is worth noting that SCZONE’s delegation made a promotional tour of the available investment opportunities within the State of China, which included talks with the Chinese companies operating in the fields of energy, infrastructure, textile industries, and others. The tour included the Chinese capital, Beijing, and the provinces of Guangzhou and Tianjin, resulting in many opportunities in related fields Common interest on both sides.
