China’s ManKai in talks with 50 firms to invest in Egypt’s textile city

The Chinese firm ManKai Investment, intends to hold talks with 15 Chinese companies to invest in Egypt’s largest textile park in Sadat City on Thursday, its Chairman Ma Yaojin told Amwal al ghad

China-Egypt Mankai Textile Industrial Park project  is established on an area of 3.1 million metre square and  would include 592 enterprises with total annual production value of US $ 9 billion and it will be developed over three phases.

Yaojin said that an official delegation is expected to arrive in Egypt by end of the current week to hold talks and make significant progress regarding investments in the project.

He added that the Man Kai has already signed deals with 50 Chinese company distributed between corporations  and middle enterprises  during the first phase of the project.

He further noted that is set to receive the first phase of the project that include 141 factories from the Armed Forces Engineering Authority in order to start their operations by the end of the current year.

The Chinese company ManKai for investment that has been working in the textile manufacturing field for more than 10 decades; the company owns 25 affiliated Chinese companies.