Waleid Gamal El-Dien, chairman of the general authority of the Suez Canal Economic Zone (SCZONE), and Ommet Eroglu, owner of Eroglu Egypt, have signed a land usufruct contract for an area of 65,000 square metres to establish Eroglu Egypt Readymade Garments (RMG) factory in the Qantara West Industrial Zone. This signing comes within the framework of strengthening cooperation with Turkish investments in the targeted industrial sectors, especially textiles and ready-made garments.
SCZONE and Eroglu Egypt have signed a contract for a 65,000-square-metre area in the Qantara West Industrial Zone to establish a readymade garments factory, aiming to boost Turkish investments in textiles.
With a $40 million investment, the factory is expected to create over 3,000 jobs.
SCZONE aims to develop Qantara West as a regional hub for the industry.
“This signing is the sixth of its kind among 15 projects being studied for implementation in the promising Qantara West Industrial Zone, which SCZONE has worked to develop and equip to receive various industrial activities, especially the ready-made garments and textiles industry. SCZONE plans to make West Qantara a regional hub for the industry. We are moving forward with the strategic vision Opportunity Creation in its current phase (Enabling 2020-2025), through SCZONE’s endeavour to attract various investments in the targeted industrial and service sectors, whether in the four industrial zones or the six seaports. During the current fiscal year alone 2023-2024 and until the end of March 2024, SCZONE has attracted 144 projects among companies with final or initial approvals for a total investment of $3,226 billion,” Waleid Gamal El-Dien stated on the sidelines of the signing.
“We are pleased to cooperate with SCZONE, for the competitive advantages that are available in it, as the integration between industrial zones and ports that achieves the proximity of production areas to import and export channels, as well as a strategic location that allows full access to global markets, and enhances the company’s sales to its customers around the world. The planned Eroglu Egypt garment factory has a total investment of $40 million. Once fully operational, the plant is expected to create more than 3,000 jobs. The company has chosen the Qantara West Industrial zone to establish its ready-made garment factory due to the availability of skilled trained workers nearby,” said Ummet Eroglu
SCZONE signed a contract last April, for a jeans garments factory in the Qantara West Industrial zone with Turkey’s Eroglu Global Holding. The factory aims to produce 7.2 million jeans, 70 per cent of which have been allocated abroad and 30 per cent to meet local market demands.