Teda Cooperation Zone helps China and Egypt build high-quality Belt and Road Together

In the desert of Egypt's Red Sea, the China-Egypt Teda Suez Economic and Trade Cooperation Zone (TEda Cooperation Zone) is full of vitality, constantly attracting enterprises and projects, and gradually becoming a demonstration project connecting China's "Belt and Road" initiative and Egypt's "Suez Canal Corridor Economic Belt".

 

Founded in 2008, Teda Cooperation Zone is located in Sukhnai Spring Port, Suez Province, Egypt, more than 120 kilometers away from the capital Cairo, the cooperation zone is divided into the starting area and the expansion area, the starting area has been fully developed, the expansion area was unveiled in January 2016.

 

According to Xu Qifeng, executive director of Egypt Teda Investment Company, which is responsible for the operation of Teda Cooperation Zone, since the beginning of this year, the commercial real estate sector of Teda Cooperation Zone has ushered in a number of major projects, and the momentum of investment is encouraging.

 

A month later, the groundbreaking ceremony of the project was held, and the project factory officially entered the construction phase.

 

Ma Ye, head of the Egypt project of Xinxing Cast Pipe Company, introduced that the project intends to invest about 145 million US dollars, with an annual output of 250,000 tons of ductile iron pipe, mainly supplying the Middle East, Africa, Europe and other regions. The project is expected to generate nearly $200 million in annual foreign exchange revenue for Egypt and provide more than 500 local jobs.

 

Walid Jamaleddin, Chairman of the General Bureau of the Suez Canal Economic Zone in Egypt, said in his speech at the groundbreaking ceremony that the successful landing of the emerging pipe casting project is very important to promote the industrialization development of Egypt, and has great and far-reaching significance to further strengthen the regional economy, promote industrial restructuring and accelerate the industrialization process.

 

In addition to the emerging pipe casting project, Saudi Haftrakte Logistics Group, Syria's Fayez Automobile Company and China's Ted Royal Logistics Co., Ltd. have also recently signed land purchase contracts with Egypt's Teda Special Zone Development Company to settle in the Teda Cooperation Zone.

 

As of April this year, the Teda Cooperation Zone has attracted investment of more than 3 billion US dollars, and about 160 enterprises have settled in.

 

The popularity of investment is also reflected in the continuous flow of teams coming to visit. "So far this year, we have received 50 or 60 study groups." Wei Jianqing, deputy general manager of China-Africa Teda Investment Co., LTD., said in an interview with reporters recently in Teda Cooperation Zone that with the promotion of jointly building the "Belt and Road", more and more domestic manufacturing enterprises are going overseas, and Teda Cooperation Zone provides a platform for these enterprises to invest and develop.

 

"Egypt has a strong desire for new energy, new materials and green industries." Qu Defu, chairman of Tianjin Teda Investment Holding Co., Ltd. recently said in an interview with reporters in Teda Cooperation Zone that Teda Cooperation Zone focuses on attracting new energy enterprises, using new energy materials, and actively guiding enterprises to pay attention to environmental protection and take the road of green and low-carbon development in the process of promoting technological development and industrial upgrading in Egypt.

 

The Sino-Egyptian joint venture XD -EGEMAC High Voltage Electric Co., Ltd. is one of the leading enterprises in the park, mainly based in Egypt, providing power transmission and transformation equipment and complete engineering services for the Middle East and Africa market. According to Shi Chen, general manager of XD -EGEMAC, the completion of the XD Egypt base has officially made Egypt the first country in the Middle East and North Africa with the manufacturing capacity of 500 kV ultra-high voltage power transformers and gas-insulated metal closed switchgear, which has strongly supported the rapid development of the Egyptian power industry.

 

"We actively respond to the national call for carbon peak carbon neutrality, adjust the direction of market development, and pay attention to the development of new energy projects in Egypt." Shi Chen said that the company closely follows the "Belt and Road" initiative, the past is "products go out, enterprises go out", and now gradually achieve "standards go out, management go out, experience go out."

(From: Xinhuanet)