China's Hightex to establish $17mln textile project in Qantara West

Arab Finance: The Suez Canal Economic Zone (SCZONE) signed a contract with Hangzhou Hightex Co. Ltd, a China-based textile products manufacturer, to develop a project within the Qantara West Industrial Zone, according to a statement.
The project will be built on 65,000 square meters, with an investment cost of $17 million (EGP 851.7 million).
The fully self-financed project will provide around 300 direct job opportunities. It aims to produce more than 20 million meters of fabric annually, allocating the entire production for export.
Following this agreement, the total number of contracted projects in the Qantara West Industrial Zone reached 20 projects, with total investments amounting to $596.5 million.
Waleid Gamal El-Dein, Chairman of SCZONE, pointed out that these projects offer more than 27,600 direct jobs.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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