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China, Egypt to Build Industrial Park
China and Egypt will jointly build a China industrial park in Egypt on June 1, 2000.
The project makes an essential part of the Suez Special Economic Zone, a key cooperation program between China and Egypt which was worked out in April 1999 when Egyptian President Mubarak visited China.
Tianjin Tianbao Industrial and Trade Co.(Group) and Sinai for Investment and Technological Development Co. will undertake the project.
The industrial park occupying 1.05 million square meters of land will manufacture products with a unified brand. Its products will be sold in Egypt and other parts of Africa, Middle East and Europe.
The construction of the park is scheduled to be finished and went into trial production in October this year, and the park will go into normal operation by the end of this year.
Chinese and Egyptian business people have signed agreements on seven cooperation projects, including plastic and metal products, purified water, and water purification equipment, during the past year.
The project working group of the China industrial park has negotiated with Tianjin on projects of kidney dialysis, chargeable batteries, air conditioners, wrist watches, and antique china.
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