Chinese firms propose $400 million container terminal, $2 billion trade city in Egypt
via Egypt Today1 min read
Deputy Prime Minister for Economic Affairs Hussein Issa met with representatives of several Chinese companies to discuss new investment projects in Egypt. The Jiangsu Province Ports Group and Shanghai Huanshi Logistics proposed a $400 million container terminal at Ain Sokhna Port, designed for a capacity of 2 million containers. Additionally, a $2 billion logistics and commercial city, modeled after China鈥檚 Yiwu city, was proposed. This project, spanning 3 million square meters, is expected to create 150,000 jobs and will include a five-star hotel, an international school, and a hospital. The Hurricane Group also discussed a 100,000-square-meter industrial zone for chemical and consumer goods, aiming to export 70% of its production to Africa, the Middle East, and Europe. Chinese representatives also showed interest in establishing a bonded warehouse for re-exporting used machinery to African markets. Waleid Gamal El-Dien, Chairman of the Suez Canal Economic Zone SCZONE, affirmed support for these ventures, noting Chinese firms are top investors in the region. Follow-up sessions are scheduled to finalize cooperation frameworks.
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This summary was AI-generated from a story originally published by Egypt Today.
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