Egypt’s Qantara West Industrial Zone is receiving more investments from its Turkish neighbors.
This week SCZONE signed an agreement with Istanbul-based denim manufacturing Ela Textile to establish a $16.5 million factory garment and denim manufacturing facility in industrial park.
The $16.5 million factory will span 248,000 square feet and create around 2,500 jobs. It is expected to produce 7 million garments including denim annually, with 80 percent of output designated for export and 20 percent for the domestic market.
Earlier this week, SCZONE announced a joint venture with Istanbul-based Dinamik Raus Tekstil and Yiltem Apparel to build a $8 million garment factory.
Yiltem Apparel is an apparel manufacturer that provides planning, cutting, printing, sewing, washing, packaging and shipping services. Dinamik Raus Tekstil specializes in garment dyeing and washing services. The 226,000-square-foot facility in in the Qantara West Industrial Zone will produce ready-made garments and textiles using modern dyeing and fabric-treatment techniques.
SCZONE reports that the project is expected to create approximately 700 direct jobs. The business will aim for 90 percent export sales and 10 percent local sales.
SCZONE chairman Waleid Gamal El-Dien said the ventures reinforces Qantara West Industrial Zone’s position as a regional hub for textiles. Total investments in the textile sector in West Qantara have reached about $1.14 billion across 42 projects.
He added that Turkish investments in the zone have exceeded $560.2 million across 15 projects, in addition to a $2.1 million Egyptian-Turkish consortium project.
SCZONE promotes the Suez Canal and its surrounding areas as an investor-friendly hub designed to create jobs, establish a global center for maritime transport and logistics, and serve as a strategic gateway for trade between East and West.
