PM witnesses inking of deal to establish global bromine complex with $110m investments

Egypt’s Prime Minister Mostafa Madbouli has witnessed the signing of an agreement to establish a global industrial complex to extract bromine in the Suez Canal Economic Zone (SCZONE). 

The deal was inked with Shandong Tianyi Chemical Corporation on the sidelines of the Forum on China-Africa Cooperation (FOCAC), currently held in Beijing.

Walid Gamal Eddin, head of the General Authority for Suez Canal Economic Zone, signed a framework agreement of all contracts of the project with Maoan Lee, head of Shandong Tianyi, and Li DaiXin, head of TEDA company. 

The project, which is the first of its kind in the Middle East and Africa region, is carried out under the directives of President Abdel Fattah El Sisi to localize bromine industry, Gamal Eddin said.

The project is set to be implemented over an area of 120,000 square meters with total investments worth $110 million, he added.