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.
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Egypt Today.
BreakingU.S. President Donald Trump announced the cancellation of scheduled airstrikes against Iran after negotiations reached an advanced stage with the highest levels of Iranian leadership. Trump stated on Truth Social that discussions and final points have been approved by all involved parties, including the United States, Israel, Saudi Arabia, the UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, and Egypt. He also noted that the naval blockade will remain in effect until the transaction is finalized, with the signing time and place to be announced soon.
Dr. Jean Kasaya, Director General of the Africa Centres for Disease Control and Prevention, praised Egypt's leading role in strengthening Africa's health security system during a phone call with Dr. Badr Abdelatty, Minister of Foreign Affairs, International Cooperation, and Egyptians Abroad. Dr. Kasaya expressed appreciation for Egypt's support of African health initiatives, highlighting its swift response to the Ebola outbreak and its provision of medical and pharmaceutical assistance to affected nations. Minister Abdelatty emphasized Egypt's commitment to the health sector as a pillar of sustainable development in Africa and reaffirmed its readiness to share expertise and support capacity-building programs. He also noted existing cooperation in providing medical supplies and vaccines, aiming to improve health system efficiency and response to health crises across African countries.
Must ReadMajor General Engineer Mokhtar Abdel Latif, Chairman of the Arab Organization for Industrialization AOI, welcomed President F茅lix Tshisekedi of the Democratic Republic of the Congo DRC and his delegation. The visit aimed to strengthen economic and industrial partnerships and enhance cooperation with African nations, supporting intra-African trade and creating new opportunities for economic and developmental partnerships. Discussions focused on joint cooperation mechanisms, leveraging AOI鈥檚 manufacturing and technological capabilities to support development projects and defense and security industries in the DRC, and exploring collaboration in various manufacturing sectors. Major General Mokhtar Abdel Latif emphasized strengthening cooperation with African countries, aligning with President Abdel Fattah El-Sisi鈥檚 directives to expand industrial and economic integration and support Egypt鈥檚 presence in African markets. He expressed pride in the relations between Egypt and the DRC, stressing the importance of continued coordination and cooperation, especially in development projects, to support the DRC鈥檚 development efforts. President Tshisekedi praised the advanced industrial technologies showcased during a tour of AOI鈥檚 product exhibition, including armored vehicles, defense systems, and medical equipment. He affirmed the DRC鈥檚 commitment to strengthening partnership with Egypt in industrial and developmental fields, appreciating AOI鈥檚 role and emphasizing coordinated efforts f