The project will span 60,000 square metre and is expected to create around 500 direct jobs and export 70 per cent of its production, a release from the State Information Service said.
Egypt’s Suez Canal Economic Zone recently signed a contract with China’s Zhejiang Hongda to set up a $20-million textile manufacturing and processing project in the Qantara West Industrial Zone.
The project will span 60,000 sq m and is expected to create around 500 direct jobs and export 70 per cent of its production.
The total number of active industrial, service and logistics projects in the zone is 53.
The contract was signed by SCZone vice chairman for Investment and promotion Mostafa Shekhoun and the company’s owners, Maliang Lin and Abdel Malek Al-Dhabi, in the presence of SCZone chairperson Walid Gamal El-Din.
Gamal El-Din said that the Qantara West Industrial Zone is witnessing rapid growth in attracting foreign direct investment across priority sectors, led by textiles, readymade garments, food industries and logistics operations.
The total number of active industrial, service and logistics projects in the Qantara West Industrial Zone has reached 53, he added.
Fibre2Fashion News Desk (DS)
