CAIRO – 23 March 2023: Prime Minister Mostafa Madbouli held a meeting Wednesday with the representatives of China's TEDA and Chen Cheng to discuss their plan of establishing a $2-billion factory for the manufacturing of steel and cast iron pipes, and whose production would be entirely exported.

The factory will lie on 1.7 million square meters at the SCzone, and create 2,100 jobs. The value of its annual production is estimated to be $2.6 billion. Hot Dipped Galvanized Steel Square Pipe

China's TEDA, Chen Cheng to build $2B-worth steel, cast iron pipe factory - EgyptToday

The first phase will be implemented with investments worth $150 million, as a plant will be built on 250,000 square meters to produce 250,000 tons of cast iron pipes per annum. The value of such annual production will be $1.2 billion, and the jobs that will be created will amount to 616.

As for the second phase, a steel factory will be constructed on 1.45 million square meters, providing 1,500 jobs. The factory's cost will be $1.8 billion, and its annual production size will hit two million tons whose value are estimated at $1.4 billion.