China's Cloud Chain proposes $2b industrial city investment in Egypt

Egypt to build carbon-free textile production industrial city

Based in Port Said covering 4.5m sq m Investments of $2bn Egypt’s textile exports growing Egypt is planning to build a carbon-free textile industrial city with total investments of up to $2 billion, the first of its kind in the Mena region. China’s Cloud Chain, a technology company focused on carbon data management solutions, is setting up the project in the northeastern Port Said. Mohamed Farid, minister of investment and foreign trade, discuss…

China's Cloud Chain proposes $2b industrial city investment in Egypt

Minister of Investment and Foreign Trade Mohamed Farid affirmed on Thursday that Egypt possesses the competitive advantages and industrial capabilities that qualify it to become a leading regional hub for integrated textile manufacturing. He also stressed the government’s commitment to providing a robust and flexible investment environment capable of accommodating major global industrial city projects. The remarks came during a meeting the minis…