Sino-Egyptian JV project of nonwoven fabric starts construction
06 Jul '05
1 min read
A Joint ventute of Chinese and Egyptian company announced of starting construction a nonwoven fabric project worth US $12.5 million in the Free Trade Zone, west of the Gulf of Suez, 130 km east of Cairo.
Chinese vice Minister of Commerce Wei Jianguo, Minister of Investments Development Mahmoud Mohieddin and other officials from the two countries put in the foundation of Egypt CTMC Nonwovens Co. Ltd. That will be manufacturing nonwoven fabric serial products.
Jianguo informed that the project will boost collaboration between China and Egypt in all fields.
Sun Weimin, General Manager of the company explained, the company is come up as the largest nonwoven fabric producer in Egypt and create employment for over 900 people. The 70 percent of its total output will be exported to Europe, the US and in the Middle East countries.
China Textile Machinery (Group) Co. Ltd (CTMC), a state-owned group of enterprises, which has diversified interests in multiple management, manufacturing and marketing has funded for the project.
marketing@alchempro.com
