Egyptian, Chinese companies agree USD 60 mln. investments

CAIRO, July 12 (KUNA) -- Egypt's Suez Canal Economic Zone signed a number of contracts with Chinese industrial companies to develop textile, auto parts and power transformer projects inside the joint China-Egypt TEDA Suez Economic and Trade Cooperation Zone (TEDA Egypt).

The total volume of investment amounts to USD 60 million, according to a statement issued by the Suez Canal Economic Zone on Wednesday.
The signing coincides with the 15th anniversary of the launch of the TEDA Egypt - the most successful partnership in the economic zone, it said.
The newly-signed contracts include one to launch "China Construction Curtain Wall" with investments of USD 10 million, Aoxiu textile project - USD 25 million, Dewei Egypt for textiles - USD 20 million, Zaiyu auto parts - USD 2 million, and Kang Dewei - USD 3.2 million, The contracts raised the total value of TEDA Egypt investments to USD 1.6 billion. (end) aff.gb.