Sino-Egypt Minkai looking to set up CNY 5 bn textile industrial complex

Egyptian-Chinese company Sino-Egypt Minkai is looking to set up a 2 mn sqm textile industrial complex at an investment value of CNY 5 bn (approximately USD 753 mn), a delegation from the company told Industrial Development Authority (IDA) head Ahmed Abdel Razek yesterday. The first phase of the complex would be established within three years, with the Chinese partners covering 60% of the investment value, Al Masry Al Youm reports. Abdel Razek discussed other potential projects with a number of other Chinese textile manufacturers.