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Thursday, 21 December 2017

China’s foreign direct investments in Egypt grew 75% in 1H2017

China’s foreign direct investments in Egypt grew 75% in 1H2017, said trade and economic attaché with the Chinese Embassy Han Peng, according to Al Borsa. He broke down some of this year’s investments (mostly concentrated in the TEDA industrial zone in Ain Sokhna) as such:

  • Jushi invested USD 170 mn in a fiber glass factory;
  • Dayang Motorcycle completed construction of a USD 30 mn factory this year;
  • New Hope Group invested USD 10 mn in its animer feed facility.

What happened to CFLD’s new capital contracts? We have not yet heard of the fate of China Fortune Land Development Company’s (CFLD) USD 4 bn contract to develop an industrial zone of the new capital over the next five years. Reports had emerged that CFLD might finally sign the contracts over the past few weeks, but no announcement had materialized. The company had been in talks with Housing Ministry to finalize the contracts, which might see the company invest a total of USD 13.5 bn over the next ten years.

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