In the ever-changing economic world, international agreements play a crucial role in the development of infrastructure and key sectors of countries around the world. Recently, at the China-Africa Cooperation Forum held in Beijing, Egyptian Prime Minister Mostafa Madbouly presided over a signing ceremony for projects worth $1 billion, highlighting the cooperation between China and Africa in the economic field.
The agreement for this major project was reached in the Suez Canal Economic Zone, a historical symbol of Egypt and a key artery of international trade. The signing of contracts worth a total of $1.067 billion for the implementation of projects to manufacture chemicals, food products and renewable energy components marks an important step in strengthening economic relations between the two nations.
The contract signed with the company “Shandong Tianyi Chemical” in the Suez Canal Economic Zone provides for the construction of a global industrial complex for the extraction of bromine material using seawater desalination products. This project, the first of its kind in the Middle East and Africa, is part of President Abdel Fattah al-Sisi’s desire to promote the localization of the bromine industry in the country.
With a total area of 120,000 square meters and requiring an investment of 110 million dollars, this project includes the supply of salt water for production, as stipulated in the contract signed by the President of Shandong Tianyi Chemical Company, Maon Lee. In addition, an agreement was reached for the use of an area of 80,000 square meters to establish a raw bromine production plant next to the seawater desalination plant. Finally, a contract was signed for the use of land between Shandong Tianyi Company and the industrial developer “Teda – Egypt” to establish a bromine products production plant on an area of 40,000 square meters.
This partnership between Egypt and China in the industrial field is of strategic importance for both countries, not only strengthening their economic relations but also promoting the development of key sectors such as chemical production and renewable energy. In a global context marked by competitiveness, these international agreements demonstrate the willingness of nations to collaborate to promote economic growth and innovation, for the benefit of their respective populations..
In conclusion, the signing of this billion-dollar project in the Suez Canal Economic Zone represents a major step forward in the regional and international economic landscape, highlighting the importance of cooperation between nations to address the challenges of the 21st century and build a prosperous future for all.