{"id":46252,"date":"2024-05-01T07:00:00","date_gmt":"2024-05-01T05:00:00","guid":{"rendered":"https:\/\/www.ecomnewsmed.com\/?post_type=news&#038;p=46252"},"modified":"2024-04-30T18:52:34","modified_gmt":"2024-04-30T16:52:34","slug":"egypt-the-chinese-company-wuan-xinfeng-will-set-up-a-steel-factory-in-the-suez-canal-economic-zone-for-an-investment-of-297-million","status":"publish","type":"news","link":"https:\/\/www.ecomnewsmed.com\/en\/2024\/05\/01\/egypt-the-chinese-company-wuan-xinfeng-will-set-up-a-steel-factory-in-the-suez-canal-economic-zone-for-an-investment-of-297-million\/","title":{"rendered":"Egypt: The Chinese company Wu\u2019an XinFeng will set up a steel factory in the Suez Canal Economic Zone for an investment of $297 million"},"content":"\n  \n    \n      \nThe General Authority of the Suez Canal Economic Zone (SCZone) announced, in a press release published on April 22, 2024, the signing of an agreement with the Chinese company Wu&#8217;an XinFeng for the establishment of a steel factory in Egypt for an investment of 297 million dollars.\n\n    \n  \n\n\n  \n    \n      \nSigned by Chairman of the General Authority of the Suez Canal Economic Zone, Walid Gamal El-Dine, and Secretary of the Committee of the Communist Party of China for Hebei Province, Ni Yu Fang, the agreement gives the company Chinese company a usufruct right on land with an area of 750,000 m\u00b2 located in the industrial zone of Ain Sokhna (116 km southeast of Cairo), the same source said.\n\n    \n  \n\n\n  \n    \n      \nThe factory, which will produce hot-rolled steel coils, plans to export 70% of its production abroad and later expand it to the manufacture of automobile engine blocks. It should ultimately generate 1,200 direct jobs.\n\n    \n  \n\n","author":114,"featured_media":32557,"comment_status":"open","ping_status":"closed","template":"","tags":[6301,5751,5818,6853],"location":[5600],"class_list":["post-46252","news","type-news","status-publish","has-post-thumbnail","hentry","tag-company","tag-economy","tag-investment","tag-suez-2","location-egypt"],"short_url":"https:\/\/bit.ly\/4aVTDpH","have_related_news":"done","chapo":"The plant will produce hot-rolled steel coils. It aims to export 70% of its production abroad and to extend it to the manufacture of automobile engine blocks, in a later stage.","media":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2021\/04\/suez-canal-egypt-secured-agreement-with-chinese-shipbuilding-company-to-acquire-5-tugboats-550x360.png","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2021\/04\/suez-canal-egypt-secured-agreement-with-chinese-shipbuilding-company-to-acquire-5-tugboats-550x360.png 550w","sizes":"550px","alt":"Egypte : L\u2019Union europ\u00e9enne (UE) va d\u00e9caisser 80 millions d\u2019euros au profit des garde-c\u00f4tes \u00e9gyptiens, pour tenter de freiner la hausse des migrants irr\u00e9guliers qui tentent de rallier l\u2019Europe par voie maritime","width":550,"height":360,"ratio":0.55,"credit_photo":""},"media-news-header":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2021\/04\/suez-canal-egypt-secured-agreement-with-chinese-shipbuilding-company-to-acquire-5-tugboats-1170x644.png","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2021\/04\/suez-canal-egypt-secured-agreement-with-chinese-shipbuilding-company-to-acquire-5-tugboats-1170x644.png 1170w","sizes":"1170px","alt":"Egypte : L\u2019Union europ\u00e9enne (UE) va d\u00e9caisser 80 millions d\u2019euros au profit des garde-c\u00f4tes \u00e9gyptiens, pour tenter de freiner la hausse des migrants irr\u00e9guliers qui tentent de rallier l\u2019Europe par voie maritime","width":1170,"height":658,"ratio":0.55,"credit_photo":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - 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