Vice President of the Suez Canal Economic Zone Authority of the Southern Region, Major General Mahfouz Abdelrahman Taha, and Chairman of the Board of Jushi company, Cao Jianglin, signed a contract for planned expansions by the Chinese company in the Ain Sokhna’s economic zone at an investment of US$60 million on an area of 90,000 meters.
Jushi Egypt for Fiberglass Industry started operating in Ain Sokhna in 2014. The comany’s production capacity in 2017 reached 200,000 tons.
During the Egyptian-Chinese Investment Forum held on Thursday evening, Taha welcomed the expansion of Chinese investments in Egypt, especially in the industrial zones of the Suez Canal Economic Zone. He added new contracts on other projects in Ain Sokhna in several other sectors are expected to be signed soon.
Taha praised the Suez Canal Economic Zone as a unique platform in the heart of the world, with a range of maritime activities, logistics and distribution centers.
Edited Translation from Al-Masry Al-Youm
