China to build first ever foreign industrial zone in Egypt
Thursday, 1 November 2007
CAIRO, Oct 31 (AFP): China is to build its first ever foreign industrial zone in Egypt in a project that is expected to draw 2.5 billion dollars in investment, Egypt's trade and industry minister said yesterday.
The five-square-kilometre Chinese Egyptian Zone for Cooperation and Trade will be built near Suez over the next 13 years at a cost of 100 million dollars, Rachid Mohammed Rachid said in a statement.
The deal, inked during a visit by Chinese Deputy Minister of Commerce Liao Xiaoqi, is expected to attract 2.5 billion dollars (1.7 billion euros) in Chinese investments in industries including garments, textiles and electronics, it said.
The five-square-kilometre Chinese Egyptian Zone for Cooperation and Trade will be built near Suez over the next 13 years at a cost of 100 million dollars, Rachid Mohammed Rachid said in a statement.
The deal, inked during a visit by Chinese Deputy Minister of Commerce Liao Xiaoqi, is expected to attract 2.5 billion dollars (1.7 billion euros) in Chinese investments in industries including garments, textiles and electronics, it said.