Sources with the Egyptian Businessmen Association revealed Sunday in a statement to Al Bawaba News that the Chinese ‘Egypt TEDA' Investment Company will sign an agreement with the Egyptian government to develop the first industrial zone at Suez Canal axis. The sources who spoke to Al Bawaba on condition of anonymity, said that a Chinese delegation representing the company will sign the agreement with the Minister of Investment, Chairman of the General Authority for the Development of Economic Zones and a delegation representing the businessmen association. The agreement ensures that the company would receive a piece of land with an area of six million square meters, west of the Gulf of Suez at Ain Sokhna port, which will be used for the establishment of a major industrial area for the development of the western Gulf of Suez region, the sources added. Furthermore, the sources pointed out that this project would be the first major industrial project to take place following the inauguration of the new Suez Canal.
