A consortium of Chinese companies is considering a $300 million investment to develop a comprehensive textile city in Egypt, according to a report in Egyptian media. The project was broached at a meeting between Hossam Heiba, Chairman of Egypt’s General Authority for Investment and Free Zones (GAFI) and a delegation of 20 major Chinese textile firms' representatives, led by Lin Yunfeng, Chairman of China National Textile and Apparel Council.
Heiba proposed potential locations in Damietta, Sadat City, and Alamain, where the government is planning to set up free industrial zones. He also highlighted the advantages stemming from Egypt’s free trade agreements with the EU, US, Africa, and Latin America. In addition, Heiba pointed out Egypt’s infrastructure development including new roads, railway lines, and expanded seaport capacities.
In a separate meeting last week, Heiba met with Ni Yuefeng, Secretary of the Chinese Communist Party in Hebei Province to discuss a planned free zone in New Alamain, as well as investments in construction materials, chemicals, and electric vehicles.
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