A total of around 80 to 100 international companies are projected to invest approximately $5 billion in the Egyptian-Chinese industrial zone in Ain Sokhna, Egypt, said a report.

A total of 68 companies from Egypt, Japan, Korea, France, China, have already invested approximately $1 billion in the region, and about 33 of these companies are operating in the industrial field, Hui Jiwen, the managing director of Tianjin Teda Company, was quoted as saying in the Daily News Egypt report.

Jiwen made the comments while participating in the Builders of Egypt forum recently.

He added that the investments are expected to provide over 20,000 to 30,000 job opportunities.
 
Jiwen said that the company is primarily concerned with industrialisation and modernisation of the industrial environment in Egypt.

He further noted that the Egyptian-Chinese industrial zone is host to five key industries, namely silos, equipment, petroleum products, non-woven textiles and complementary industries, added the report.