PM visits China-Egypt TEDA zone at Ain Sokhna
Friday، 15 March 2019 - 11:19 AM
Prime Minister Mostafa Madbouli made a tour of the China-Egypt TEDA Suez Economic and Trade Cooperation Zone at Ain Sokhna area, the cabinet's media office said in a statement Thursday.
Accompanied by head of the Suez Canal Authority (SCA) and the Suez Canal Economic Zone (SCZone) Mohab Mamish, the premier listened to an explanation about the area belonging to TEDA company, the largest industrial developer in the southern zone.
TEDA is set up on an area of 7.25 square kilometers. Construction works of the project's primary phase, which covers 1.34 square kilometers, have been finalized in seven years.
The zone has become one of the best economic and trade models of cooperation between the Egyptian and Chinese sides in Africa.
The cabinet statement added that TEDA is the second zone to be established by the Chinese government outside the country.
The zone is divided into four sectors, including one for manufacturing petroleum equipment which is represented by the EPHH company with investments totaling $30 million along with the International Drilling Material Manufacturing (IDM) Company, of which investments hit $30 million as well.
Madbouli, along with his accompanying delegation, also inspected the Jushi Group factory for fiberglass manufacturing, the largest Chinese project in the field of advanced equipment technologies in Egypt.