Arabnews24.ca:Thursday 16 March 2023 10:29 AM: SUEZ, Egypt – Egyptian Prime Minister Mostafa Madbouli and his accompanying delegation witnessed on Thursday the inauguration of “Egypt Fanyang” factory for textile printing and dyeing, as part of his inspection tour of some projects in the Suez Canal Economic Zone (SCZone).
“Egypt Fanyang” is one of the factories constructed by the China-Egypt TEDA Suez Economic and Trade Cooperation Zone in the Suez Canal Economic Zone (SCZone).
The factory’s owner informed the premier that the industrial facility, which cost nearly USD 60 million, was erected on an area of 120,000 square meters.
The owner said the factory is specialized in producing fabrics for clothing, blankets and home furnishings. It also provides 1,200 direct jobs and 2,000 indirect jobs.
The owner noted the factory is expected to annually produce 30,000 tons of fabrics, with annual yields of USD 150 million.
The owner stated this project comes within the framework of economic and commercial cooperation between Egypt and China.
