Egypt & China handhold for production of steel for exports

March 25, 2023

(2 minutes read)

Egypt has proposed to handhold China’s TEDA and Chen Cheng to establish a US$2-billion factory for the manufacturing of steel and cast iron pipes. The production from the plant would be for exports.

Egypt has proposed to handhold China’s TEDA and Chen Cheng to establish a US$2-billion factory for the manufacturing of steel and cast iron pipes. The production from the plant would be for exports.

This was revealed by Prime Minister Mostafa Madbouli at a meeting he held recently with the representatives of Chinese-based companies, during their visit to Egypt.

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The factory will be built in an area having 1.7 million square meters in the SC zone. It will create 2,100 jobs. The company is expected to have an annual production valued at US $2.6 billion.