Shanghai Safbon Water Service company is planning to establish a recycling plant with investments worth $200m in Kafr El Sheikh in the coming period.
Minister of Investment Dalia Khorshid met with a delegation from the Chinese company and officials from the ministries of electricity and environment, as well as Kafr El Sheikh governorate.
The Chinese delegation presented a plan to establish a plant for recycling 1,500 tons of household garbage per day in Kafr El Sheikh.
The project received preliminary approval from the Environment Ministry, while the final approval is stipulated to the type of technology to be used in the facility.
Khorshid said that the Ministry of Investment aims to attract foreign investment to all governorates that would help serve the needs of each one and provide development projects nationwide.
Moreover, a ministry press release noted that this meeting is part of the follow-up meetings the ministry is holding with China’s Safbon, highlighting an earlier meeting between Khorshid and the Chinese group.
Safbon plans to have Egypt as its first investment station in the Middle East with eyes on four projects in Kafr El Sheikh, Cairo, and Fayoum, totaling $1bn of investments over four years.
Daily News Egypt