A Sino-Egyptian company on Monday began construction of a nonwoven fabric project worth 12.5 million US dollars in the Free Trade Zone, west of the Gulf of Suez, 130 km east of Cairo.

Visiting Chinese Vice Minister of Commerce Wei Jianguo, Minister of Investments Development Mahmoud Mohieddin and other officials

from the two countries laid the foundation stones of Egypt CTMC Nonwovens Co. Ltd., which will be engaged in producing nonwoven fabric serial products.

"The project will bolster cooperation between China and Egypt in all fields," said Wei.

General Manager of the company Sun Weimin said the company will be the biggest nonwoven fabric manufacturer in Egypt and create more than 900 jobs, adding 70 percent of its product will be exported to Europe, the United States and countries in the Middle East.

The investor of the project is China Textile Machinery (Group) Co. Ltd (CTMC), a state-owned large-scale group of enterprises engaged in multiple management, manufacturing and marketing.

Wei arrived here on Sunday for a three-day visit to explore ways of promoting cooperation in trade, the economy and investment.

Source: Xinhua