The Suez Canal Economic Zone (SCZone) has signed a $5.6 million agreement with Turkish garment maker Eroglu Moda Tekstil to establish a ready-made garments factory in the Qantara West Industrial Zone, the authority said on Monday.
The fully self-financed project will be built on a 5,700-square-metre site and is expected to create about 700 direct jobs once operational.
The factory will produce ready-made garments and denim products, with an annual capacity of up to one million pieces. Around 95 percent of output will be exported, while the remaining five percent will be supplied to the local market, according to SCZone.
SCZone chairman Waleid Gamal Eldien signed the contract with Eroglu Moda Tekstil San Ve Tic S.A. The project adds to a growing cluster of textile and manufacturing investments in the Qantara West zone.
El-Dien said the number of contracted projects in Qantara West has reached 50, covering a total area of about 3.46 million square metres, with cumulative investments estimated at $1.35 billion and more than 70,000 direct jobs.
He added that the figures include projects developed with the Main Development Company (MDC), SCZone’s development arm, which builds ready-to-operate factories and industrial facilities for investors.
