Mohab Mamish, president of Suez Canal Authority, signed three agreements with Chinese companies specialized in non-woven and modern materials, textile and drywall during the China-Africa forum in Beijing, China.  

The first agreement was signed with Shandong Ruyi Spinning & Weaving Co., which is planning to invest $830 million to create a textile industrial zone and 10,000 jobs.  

The second agreement was signed with Taishan Gypsum Board Co., Ltd for a $125 million plasterboard production plant and 300 jobs created in the wake.

The third company Mohab Mamish signed a contract with is Xiamen Yan Jiang Co. for non-woven and modern material supply. In the framework of that project, the company will invest $50 million and create roughly 300 jobs.

The new plants will be established in the 7.34 kilometers TEDA-Suez industrial zone. Let’s note that the first phase of this industrial zone has already been completed.