Cairo – Mubasher: Egypt Teda Investment Company aims to lure $5 billion in investment at the China-Egypt TEDA Suez Economic and Trade Cooperation Zone over the coming four years.
The company has already succeeded in attracting $500 million investments within the framework of the second phase of the project, CEO of TEDA told local newspaper Shorouk.
The China-based firm will implement the second phase of the project over four years in the governorate of Suez.
The Chinese company plans to start negotiations with China’s Shandong Xin Rui, specialised in the textile industry, this week to invest a square kilometre in the first phase, according to Almal News.
TEDA had signed an agreement with Emirates NBD last January to open two branches of the bank at the Chinese industrial zone in Ain Sokhna, Suez.
