Egypt is set to begin work on the Ain Sokhna Automotive Logistics City in February, a government source tells Al Mal. Feasibility studies and designs should be complete by next week, at the end of which stakeholders will hold a meeting to agree on final details. China’s TEDA Holding had been tapped to run point on the project and had inked agreements with seven investors last year to establish the EGP 300 mn auto manufacturing and shipping hub. The projects had been delayed from 2016 to due to financing issues.

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