Chinese ductile iron pipes firm to establish new factory in Egypt

STORY: Chinese ductile iron pipes firm to establish new factory in Egypt SHOOTING TIME: March 27, 2024 DATELINE: March 30, 2024 LENGTH: 00:00:32 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of signing ceremony (Courtesy of the Egyptian Cabinet) STORYLINE: China's Xinxing Ductile Iron Pipes Co., Ltd. has signed a land lease contract with Egypt-TEDA SEZone Development Company to build a new factory in the China-Egypt TEDA Suez Economic and Trade Cooperation Zone. The signing ceremony held on Wednesday was attended by Egyptian Prime Minister Mostafa Madbouly, Suez Canal Economic Zone Chairman Waleid Gamaleldien, and other senior Egyptian officials. The project is planned to cover an area of about 270,000 square meters and produce 250,000 tons of ductile iron pipes per year, said Ma Ye, head of the Egypt project of Xinxing Ductile Iron Pipes Co., Ltd. With an investment of approximately 145 million U.S. dollars, the project is expected to generate nearly 200 million dollars in foreign exc