Three letters of interest (LoI) were signed for upcoming textile projects. The first was with Shaoxing Yuding Textile Company for a $5 million factory aimed at exporting 90 per cent of its production to the American and European markets, according to Egypt’s State Information Service.
Another LoI was signed with Wang Xiao Rong, chairman of Shengzhou Captain Industrial & Trading Co, for a $5 million project focused on spandex, polyester, and elastic yarns. The third LoI involved Indochine Holdings Pty Ltd, an Australian company with a $21.3 million investment plan to export all its manufactured products to American and European markets.
The visit marks El-Dien’s second promotional tour in China and included roundtable discussions with major textile manufacturers and companies specialising in ready-made garments. These discussions centred around investment prospects within SCZone, particularly in the West Qantara Industrial Zone.
The previous tour in May had already led to the signing of a $28.5 million final contract with Shanghai Shengda Company for ready-made garments and accessories, spurring interest among other Chinese investors.
ALCHEMPro News Desk (NB)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
