China to develop industrial complex in Egypt
09/03/2014 2:45 am EDT

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Chinese developer TEDA has signed an agreement with Egypt’s General Authority for the Northwest Suez Gulf Economic Zone to develop six square kilometres in Ain Sokhna, Daily News Egypt has reported. The project is the first phase in a larger development deal between Egypt and China that saw the Chinese government present a grant to establish a 20,000 metre complex. The developers plan to spend $800m on infrastructure, which will include 500 factories.

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