Arab Finance: China Enterprise Cloud Chain plans to launch MENA’s first integrated, carbon-neutral textile industrial city in Egypt, with total investments ranging between $1.5 and $2 billion, according to a statement.

Minister of Investment and Foreign Trade Mohamed Farid held a meeting with the company’s leaders, during which they presented the project's master plan to be implemented in two phases.  

Spanning 4.5 million square meters, the project will be set up over two phases, each of which will take 24 months. It is expected to provide between 50,000 and 80,000 direct job opportunities, in addition to about 60,000 indirect job opportunities.

The first phase, covering 2 million square meters, will focus on establishing environmentally sustainable industrial and service facilities while attracting between 30 and 50 textile manufacturers. It will also include integrated support infrastructure such as technical and vocational training schools, logistics hubs, and commercial centers.

Meanwhile, the second phase will extend across 2.5 million square meters and aims to complete the integrated textile value chain by strengthening linkages between feeder industries and complementary manufacturing activities.

Both sides touched upon the advantages of various investment systems in Egypt, particularly the Investment Zones and Special Investment Zones (SIZs), to select the most suitable framework for implementing the project in line with the targeted investments.

Farid ordered the ministry's officials to continue discussions with the company and take all necessary measures for technical and promotional coordination.

He also directed them to gain firsthand knowledge of the company's capabilities through the Egyptian Commercial Service (ECS) in China, which will support the completion of technical studies and evaluations related to the project.