Shanghai Safbon Water Service to invest $1bn in EgyptStaff writer ▼ | June 27, 2016
Shanghai Safbon Water Service Company is looking to invest in Egypt with $1bn to build water desalination and waste recycling plants, according to press statement.
China in Egypt Over the course of four years
Safbon will build a plant in Kafr El-Sheikh for waste recycling with a capacity of 1,500 tonnes per day and another plant in Bilbes in Cairo with a capacity of 8,000 tonnes per day.
The company will also build a plant in Fayoum with a capacity of 1,500 tonnes per day in addition to a water desalination plant in Fayoum with a capacity of 50 cubic metres per day. The company’s investment of $1bn will span the course of four years.
China ranked 23rd in the list of countries investing in Egypt, with 1,226 Chinese companies operating in Egypt with a total investment of $500m. ■