China’s Jushi inaugurates largest fibreglass production in Egypt
Fibreglass maker China Jushi inaugurated on Tuesday a new production base of 200,000 tonnes in Egypt’s Suez Canal city of Ain Sokhna.
“Jushi Egypt has completed an investment of more than $600 million. It is currently the largest industrial manufacturing project invested by China in Egypt with the largest amount of investment, the most advanced technology and equipment, and the fastest construction speed,” Jushi Group’s Chairman Zhang Yuqiang said.
Jushi Egypt is a tenant of China’s TEDA, one of the oldest and largest industrial developers in the Suez Canal Economic Zone (SCZone) that is developing an area of 7.23 square km in the region.
“Jushi Egypt is the world’s largest fiberglass production base outside of China and is also the only such base in Africa, filling the gap in the African continent’s fiberglass manufacturing industry,” the Jushi chief added.
Yuqiang added that Jushi Egypt fiberglass production base is not only a milestone for China Jushi’s “go out” strategy, “but also an important achievement and a successful example of economic cooperation between China and Egypt.”