Mankai halts China-Egypt textile park roadshow plans on coronavirus outbreak

The outbreak of the coronavirus is driving Mankai Investment to halt its roadshow to promote an anticipated sprawling China-Egypt textile park project, its chairman Ma Yaojin said on Wednesday.

China’s government-owned firm Mankai is the developer of the Chinese textile park in Egypt according to an agreement signed with the Egyptian government in 2018.

Located in the industrial city of Sadat between Cairo and Alexandria, the sprawling industrial park will span over 3.1 million square metres. Factories at the textile park in will be included in the Qualified Industrial Zones (QIZ) protocol.

The outbreak, traced to the Hubei provincial capital of Wuhan, has killed around 2,717 so far and stricken more than 78,000 in mainland China.

Chinese investors – whether who had signed deals or willing to invest in the textile park – are facing difficulties with flights, leading to disrupt the operation of the park’s factories, Yaojin told Amwal Al Ghad.

Mankai has signed agreements so far with 80 Chinese and international firms to participate in the first phase of the textile park project, he added.