China Injects Massive Investments into Egypt’s “Golden Triangle”

Sudanhorizon – Agencies

Egypt’s Minister of Petroleum and Mineral Resources, Engineer Karim Badawi, revealed that the Chinese Xingfa Group intends to inject investments worth up to USD 2 billion into Egypt’s mining sector.

According to a report published on Thursday by Russia Today Arabic, the minister stated that he held extensive discussions with a delegation from the group headed by Cheng Yali, during which the delegation presented an ambitious plan to transform the “Golden Triangle” region in Upper Egypt into a major industrial hub and to establish the group’s largest production center outside China.

Engineer Karim Badawi affirmed that the project fully aligns with Egypt’s national strategy to advance the mining sector, which aims to shift from exporting raw materials to manufacturing high value-added products. He noted that the Ministry of Petroleum and Mineral Resources will provide all necessary logistical and technical support to accelerate the signing of the memorandum of understanding and the actual implementation of the project, stressing that Egypt “opens its doors to global companies that possess advanced technologies to build a solid industrial base.”

For their part, officials from Xingfa Group explained that the project will be implemented in three integrated phases, starting with phosphate exploration and extraction, and extending to the production of specialized chemicals and high-quality products. They also praised Egypt’s attractive investment climate and the competitive advantages of the Golden Triangle region as a strategic location linking African and European markets.

This investment represents a pivotal step in strengthening the strategic partnership between Egypt and China, as Xingfa seeks through it to transfer advanced technical expertise and localize vital industries that contribute to supporting the Egyptian economy and creating thousands of job opportunities.

At the conclusion of the meeting, the Egyptian minister invited the Chinese side to participate in the “Egypt Mining Forum” scheduled to be held next September, while the head of the Chinese group invited the minister to visit the company’s headquarters in China to review the latest technologies used in this vital sector.

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