China’s Shenyang Yuanda Aluminium Industry Engineering Co. Ltd. (CNYD) is studying setting up an industrial zone for building materials industries in Egypt on a space of 4 square kilometres.
The industrial zone will be with investments worth $550 million, Egyptian Minister of Trade Tarek Qabil told reporters after he had met with Shenyang Yuanda officials in Beijing.
This project is among the Chinese company’s plans to establish four industrial zones for prefabricated buildings in four various countries, Qabil added.
Shenyang Yuanda seeks to carry out the industrial zone in Egypt in three phases, the Egyptian minister noted. The first phase will be on a space of 1 square kilometres designated for prefabricated buildings; while the second will be on 1 square kilometres for insulation materials, and the third will be on two square kilometres for building materials industry.