Egypt and China Collaborate on $1.65B Metallurgical Complex

Egypt has partnered with China's Xinfeng to establish a $1.65 billion metallurgical complex. Scheduled in two phases over five years, the project will be located in the Suez Canal Economic Zone, enhancing industrial capabilities and strengthening economic ties between the two nations.

In a significant economic development, Egypt has inked a deal with China's Xinfeng to develop a state-of-the-art metallurgical complex worth $1.65 billion. This ambitious initiative, announced by the trade and industry ministry, marks a pivotal collaboration between the two countries.

The extensive project is planned for execution in two phases over a five-year span. The metallurgical complex will be strategically situated within the Suez Canal Economic Zone, a decision likely to advance the region's industrial infrastructure and drive economic growth.

This partnership underscores the deepening trade relations between Egypt and China, promising mutual benefits and a boost to regional development. This project is set to garner significant interest from international investors and stakeholders keen on the economic potential of the Suez Canal area.

(With inputs from agencies.)