Cairo – Mubasher: Egypt’s Ministry of Investment stated on Thursday that China Fortune Land Development (CFDL) plans to inject $20 billion investments within the coming tend year in the new administrative capital.
In addition, the company intends to hold an international conference, including 300 high-profile world companies, in China for encouraging Chinese and global companies to put more investments in Egypt, the ministry added.
The ministry called in to form a joint teamwork of the ministry’s and CFDL’s representatives for setting an investment model of the company’s activity in Egypt.
CFLD was founded in 1998 as a leading new industrial city operator with assets valued at RMB 170 billion by the end of 2015. During 2016, the company expects to achieve $20 billion sales, according to the statement.
