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.
This will be the company’s first investment in the Middle East.
The company plans to carry out four projects in the governorates of Kafr El-Sheikh, Cairo, and Fayoum.
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.
The statement said that Minister of Investment Dalia Khorshid met with a delegation from Shanghai Safbon Water Service Company on Thursday.
The statement said that the company, which sells integrated equipment for water treatment systems and has provided technical services for water treatment systems for over 20 years, is visiting Egypt for the first time.
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.