Mustafa Madbouly, prime minister of Egypt, visits Jushi Egypt Glass Fiber Co Ltd in Egypt on March 16. [Photo/jiaxingren.com]

Mustafa Madbouly, prime minister of Egypt, visited Jushi Egypt Glass Fiber Co Ltd in Egypt on March 16. The company was funded by China Jushi Group Co Ltd in Jiaxing, Zhejiang province, according to local media reports.

On the same day, the company's production line, with an annual output of 120,000 metric tons of glass fiber, was unveiled.

The new production line will increase the production capacity of Jushi Egypt glass fiber base to 320,000 tons annually, making Egypt the fourth largest producer of glass fiber in the world.

During his visit, Madbouly obtained a detailed understanding of the company's business performance and glass fiber manufacturing process in recent years.

Jushi Egypt currently has more than 2,000 employees, with a localization rate of over 98 percent.

Madbouly pointed out that the new project not only brought benefits to Egypt, but also further strengthened economic cooperation between China and Egypt and promoted trade exchanges between the two countries.

Just four years after the last visit, Jushi Egypt has completed a large-scale new production line and created a number of jobs for locals, added Madbouly.

While Jushi Egypt's products meet local demand in Egypt, its sales to European and American markets have also boosted Egypt's foreign exchange revenue.