CAIRO – 13 July 2023: Chinese Company TEDA and the Suez Canal Economic Zone (SCZone) signed several contracts worth $60 million for a variety of projects in the textile, auto parts, and electric power transformers industries.

The signing of the contracts took place yesterday on the sidelines of the 15-year celebration of the partnership between TEDA Egypt and SCZONE. The signing was witnessed by the Chairman of the General Authority for the Suez Canal Economic Zone, Walid Gamal El Din, the celebration and signing included the Chinese Minister of Plenipotentiary Trade, Chang Chuyang, and Managing Director of the China Development Bank, Mr. Ma Lu.

The several contracts signed were for China Construction Wall project worth $10 million in investments on an area of 27,000 square meters, Deyu (Egypt) for textile printing with $20 million on an area of 20,000 square meters, Zaiyo for auto parts with  $2 million on an area of 20,000 square meters, Kang Dewei with $3.2 million on an area of 20,000 square meters, and Aoxiu Textile Company with  $25 million on an area of 36067.8 square meters.

Source: Egypt Today