SCZONE signs contract to establish Chinese iron factory worth $297 mln - Egyptian Gazette

Egyptian Gazette

SCZONE signs contract to establish Chinese iron factory worth $297 mln - Egyptian Gazette

CAIRO – The Suez Canal Economic Zone (SCZONE) on Monday signed an usufruct contract to provide a land plot of 750,000 square metres for a project of Chinese company Wuan Xinfeng in the Ain Sokhna industrial zone. The project, which costs USD 297 million and secures 1,200 jobs, is aimed at establishing a factory for producing hot-rolled iron coils, according to a statement released by the SCZONE. The signing ceremony was attended by SCZONE Chairm…