China Xinxing Cast Pipe Co., Ltd. and Egypt Teda Special Zone Development Company recently signed a land purchase agreement for the expansion of the China Egypt Teda Suez Economic and Trade Cooperation Zone (Teda Cooperation Zone) at the Egyptian Prime Minister's Office, marking the official entry of Xinxing Cast Pipe projects into the park.

Egyptian Prime Minister Madbury, Chairman of the Suez Canal Economic Zone Authority Walid Jamal Din, and several other Egyptian officials attended the signing ceremony. 

Ma Ye, the project leader of Xinxing Cast Pipe Company's Egypt project, introduced that the Egypt project is the first overseas cast pipe production base for Xinxing Cast Pipe ductile iron pipe products. The project plans to invest approximately 145 million US dollars and produce 250000 tons of ductile iron pipes annually, mainly supplying regions such as the Middle East, Africa, and Europe. The project is expected to bring nearly $200 million in foreign exchange revenue to Egypt annually and provide over 500 job opportunities locally.

Cao Hui, Executive Director of TEDA Special Zone Development Company in Egypt, stated that this signing is not only of great significance to TEDA Cooperation Zone, but also will fill the industry gap in the field of ductile iron pipes in Egypt, greatly enhancing the research and supply capacity of local pipelines in Egypt.

The TEDA Cooperation Zone is located in Suhnai Spring Port, Suez Province, Egypt, more than 120 kilometers away from the capital Cairo. The cooperation is divided into a starting area and an expansion area. The starting area has been fully developed, and the expansion area was unveiled in January 2016 and operated by the TEDA Special Zone Development Company in Egypt. As of the end of December 2023, the TEDA Cooperation Zone has attracted investment of over 2 billion US dollars, with a cumulative total output value of over 4.8 billion US dollars, directly solving employment problems for over 7000 people, and driving employment for about 50000 people through industry.Editor/XuNing