The contract was signed by Walid Youssef, Managing Director of the Main Development Company (MDC), and Tarek Shehata, General Manager of PYRAMIDS ALU.
As part of this agreement, the Chinese company WU'AN XIN FENG has granted usufruct rights to a land area spanning 750 thousand square meters to establish a factory to produce hot-rolled iron coils.
This project aims to manufacture 7.2 million pieces of jeans, export 70% of the total production, and allocate the remaining 30% to the local market.
Additionally, the annual production capacity will be 250,000 tons whose value is estimated to be $1.2 billion.
The project targets exporting more than 50% of the project’s products to global markets, in partnership with French Firms.
