China State Construction Engineering Corporation (CSCEC) has opened a new steel structures factory in Egypt, investing CNY 87.40 million ($12.06 million) in the project.
The factory is located on a 27,039 square meter site and has an annual production capacity of 25,000 tonnes, creating 200 new jobs.
This new factory is part of the expansion of the Teda-Egypt zone and other zones within the Suez Canal Economic Zone (SCZONE), according to Walid Gamal El-Din, Chairman of the SCZONE.
The opening of this factory follows the signing of 14 agreements between Egyptian and Chinese companies to launch various projects in Egypt earlier this month.
CSCEC is a major Chinese construction company that has been actively involved in projects across North Africa, including the new headquarters building for the Central Bank of Kuwait and the Algeria North-South Highway.
The company has developed specialized steel modular construction technologies, known as "Hailong Cubes", which it is now bringing to the Egyptian market.
