Tarek Qabil: Trade Minister $100-M Aluminum Factory to be Established In AtaqaSource: www.export-egypt.com 1/23/2017, Location: Africa |
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 A major Chinese company will establish a factory in Egypt to manufacture aluminum composite panels at a cost of $100 million, said Trade Minister Tareq Qabil.
Located in Ataqa industrial zone, in the northern Gulf of Suez, the factory is co-funded by Egypt, Saudi Arabia and China, the minister added, noting that the production of the factory is meant to meet domestic market needs. Qabil made the remarks during meeting with the CEO of the Chinese company Goodsense and his accompanying delegation that comprised a host of Egyptian and Saudi investors. A 16,000-meter square land plot in Ataqa has been allocated for the factory, Qabil said, adding that it will start operation within nine months' time. Good sense Company is determined to invest in the Egyptian market to make good use of the country's major competitive advantages and the 90-million consumer capacity market, Qabil added. |
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