Establishing an Egyptian - Chinese holding company

A contract of establishing the holding company 'south of the valley' for development in Aswan was signed yesterday of a capital 100 million L.E.

The Egyptian - Chinese company is for running 4 factories for pottery production, fish, the agriculture forage, agricultural tractors and light cargo cars assembly whose production will be specified for the African and the Asian markets.

The Arab Egyptian Estate bank will participate with 60% of this company's capital while the Egyptian and the Chinese investors share the rest of the company's capital. This is considered the fruit production of the Egyptian - Chinese business council (under construction) which aims at attracting the Chinese investments to Egypt.