The Egyptian government issued a statement on December 23 saying that the signing ceremony for three large-scale industrial projects in the Ain Sokhna Industrial Zone will be held on the same day. The Egyptian Industrial Development Authority signed contracts with Xinfengming, Chaoyang Langma Tire, and Tongling Jieya Biotechnology Co., Ltd., with a total investment of about US$1.15 billion. Walid Jamaluddin, chairman of the Suez Canal Economic Zone, said the first contract included the construction of a polyester fiber and polymer integrated industrial park with an investment of more than 800 million US dollars. The project will be built in three phases, with a total annual production capacity of 1.08 million tons, and is expected to create about 3,000 direct jobs. The second contract involves the construction of a comprehensive industrial park for the production of heavy truck tires and passenger car tires. The estimated investment amount is 190 million US dollars, which will create about 1,400 direct jobs. The third contract involves the construction of an industrial park for the production of hygiene products, with an estimated investment of 160 million US dollars and the creation of about 1,000 direct jobs.

The Egyptian government issued a statement on December 23 saying that the signing ceremony for three large-scale industrial projects in the Ain Sokhna Industrial Zone will be held on the same day. The Egyptian Industrial Development Authority signed contracts with Xinfengming, Chaoyang Langma Tire, and Tongling Jieya Biotechnology Co., Ltd., with a total investment of about US$1.15 billion. Walid Jamaluddin, chairman of the Suez Canal Economic Zone, said the first contract included the construction of a polyester fiber and polymer integrated industrial park with an investment of more than 800 million US dollars. The project will be built in three phases, with a total annual production capacity of 1.08 million tons, and is expected to create about 3,000 direct jobs. The second contract involves the construction of a comprehensive industrial park for the production of heavy truck tires and passenger car tires. The estimated investment amount is 190 million US dollars, which will create about 1,400 direct jobs. The third contract involves the construction of an industrial park for the production of hygiene products, with an estimated investment of 160 million US dollars and the creation of about 1,000 direct jobs.