馃嚜馃嚞EgyptNorth Africa
SCZONE secures $8 million Turkish textile investment in Qantara West, creating 700 jobs
via Egypt Today2 min read
Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone SCZONE, oversaw the signing of an investment agreement with Turkish firms YILTEM Apparel and Dinamik Raus Tekstil. This agreement will establish a new garments and textiles manufacturing facility in the Qantara West Industrial Zone, with an investment of $8 million. The facility, spanning 21,000 square meters, will produce ready-made garments and textile products using modern manufacturing, dyeing, and fabric processing technologies. It is projected to create approximately 700 direct jobs, with 90% of its output designated for export markets and 10% for the domestic market, supporting Egypt鈥檚 export-driven industrial strategy. This project increases the total number of Turkish investments in Qantara West to 15, bringing cumulative Turkish investments in the area to about $560.2 million, alongside a $2.1 million joint Egyptian-Turkish project. El-Din emphasized SCZONE's commitment to attracting high-quality industrial investments and supporting the textiles and garments industry, which is a key sector for job creation and export growth.
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This summary was AI-generated from a story originally published by Egypt Today.
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