SCZone inks contracts for China-Egypt TEDA Cooperation Zone projects

17 Jul '23

1 min read

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Insights

Chinese state-owned TEDA Investment Holding and the Suez Canal Economic Zone recently signed contracts worth $60 million for multiple projects in textile, auto parts and electric power transformer sectors.
Among the contracts signed were one worth $20 million with DEYU (Egypt) for textile printing and another worth $25 million with Aoxiu Textile Company.

Chinese state-owned TEDA Investment Holding and the Suez Canal Economic Zone (SCZone) recently signed contracts worth $60 million for multiple projects in textile, auto parts and electric power transformer sectors.

The signing took place on the sidelines of the event celebrating 15 years of the partnership between TEDA Egypt and SCZone.

Among the contracts signed were one worth $20 million with DEYU (Egypt) for textile printing and another worth $25 million with Aoxiu Textile Company. DEYU Machinery is a professional manufacturer and exporter of glass machinery located in Guangdong, China.

TEDA-Egypt has made investments worth $1.6 billion in the country, SCZone chairman Walid Gamal El Din was quoted as saying by Egyptian media reports.

SCZone delegates visited several Chinese provinces on promotional tours during May and June this year seeking investment opportunities.

Fibre2Fashion News Desk (DS)

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