More Chinese investments incoming: The Suez Canal Economic Zone (SCZone) has allocated land for two new projects worth a combined USD 9.5 mn in China’s special economic zone TEDA, according to a statement from the SCZone.

#1- Xinjin Textile, Printing, and Dyeing will establish a USD 5.5 mn project on an area of 20k sqm;

#2- Shengyuan Construction Engineering Company will establish a USD 4 mn project on an area of just under 16k sqm.

ALSO NEW TO TEDA- During the signing of the land allocation agreement, the Egyptian and Chinese sides witnessed the unveiling of a number of projects new to TEDA: The Kemedi Chemical Company’s USD 17.2 mn project, the Jasmine Industrial Investment’s USD 1.9 mn project, and the Tiger King Tools’ USD 1.9 mn project.

The SCZone wants to house 1k Chinese companies by 2030: “The SCZone succeeded in attracting 128 projects worth USD 6 bn in the past 2 years, of which Chinese investments represent 40%. This success also extends through the expansions of the industrial developer TEDA. SCZone is working to provide all types of support to attract more investments. There is a legitimate ambition to level up the number of Chinese companies in SCZone to reach 1k by 2030,” SCZone head Walid Gamal El Din said.

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