A Chinese consortium comprised two firms is seeking to establish an ironworks at the Suez Canal Economic Zone with $300 million in investments, according to a statement on May 25th.
The General Authority for the Suez Canal Economic Zone (SCZONE) is studying the offer submitted by the alliance, under which the project is planned to be built on a 750-square-meter area.
If approved, the complex would offer 1,200 job opportunities and is set to be carried out in two phases.
The offer is pending approval from the concerned authorities.
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