Latest news with #QantaraWest
Zawya
a day ago
- Business
- Zawya
Egypt: SCZone, UR-SA sign $20mln contract to build packaging plant in Qantara West
Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZONE) has signed a new investment contract with Turkish company UR-SA to establish an industrial textiles and plastic packaging facility in the Qantara West Industrial Zone, as per a statement. The project, covering 35,000 square meters, will see investments totaling $20 million, equivalent to EGP 1 billion. The facility is expected to create 1,000 direct job opportunities. It will focus on producing industrial and agricultural packaging materials, including FIBCs (large bags), with 80% of output designated for export. SCZone Head Waleid Gamal El-Dien stated that this project marks the 23rd in Qantara West, raising total investments in the zone to $643.5 million and the number of direct jobs created to over 33,600. He emphasized that the economic zone is intensifying its efforts to attract investments in industries targeted for localization, with a focus on deepening industrial output, boosting exports, and strengthening supply chain integration. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
a day ago
- Business
- Zawya
Egypt: SCZone, ULUSOY Tekstil ink $18mln deal to establish yarn manufacturing project in Qantara West
Arab Finance: The Chairman of the General Authority of the Suez Canal Economic Zone (SCZone) Waleid Gamal El-Dien signed a contract with Turkish company ULUSOY Tekstil San. Tic. A.? to establish a yarn and thread manufacturing project in the Qantara West Industrial Zone, as per a statement. The factory will span 35,000 square meters, with investments amounting to $18 million, approximately EGP 902 million. It is expected to provide around 855 direct job opportunities. The project will produce a variety of yarns, including carpet yarns, hand-knitting yarns, knitting yarns, and crochet yarns, as well as garments, with 80% of production allocated for export and 20% for the local market. Gamal El-Dien emphasized that spinning and weaving projects continue to consolidate Qantara West's position as a regional hub for the yarn and ready-made garment industries. He noted the area's strategic location, connected infrastructure, and integrated supply chains as key enablers for attracting specialized, export-oriented investments. With this latest addition, the number of contracted projects in Qantara West has reached 24, bringing total investments to $661.5 million and generating 34,455 direct job opportunities. The initiative is part of the authority's broader strategy to support export industries, deepen local manufacturing, and localize supply chains, enhancing the industrial sector's contribution to Egypt's gross domestic product (GDP). ULUSOY Tekstil, founded in Turkiya in 1986, operates two major industrial facilities and is considered one of Europe's largest producers of luxury yarns, with a monthly output exceeding 1,000 tons exported globally. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
21-05-2025
- Business
- Zawya
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. (
Zawya
20-05-2025
- Business
- Zawya
SCZONE signs $17mln deal with China's Hightex for fabric plant
Egypt's Suez Canal Economic Zone (SCZONE) has signed an agreement with China-based Hightex to set up a fully export-oriented decorative fabrics manufacturing facility in Qantara West Industrial Zone at an investment of 851.7 million Egyptian pounds ($17 million). The facility, which is entirely self-financed, will occupy a 65,000-square-metre plot, and produce over 20 million metres of decorative fabrics annually for export, SCZONE said in a press statement. The project is expected to create around 300 direct job opportunities, the statement said, adding that new project takes the total number of contracted projects in Qantara West to 20, representing cumulative investments of $596.5 million and generating over 27,600 direct jobs. Founded in 1990 in Hangzhou, Hightex is a major supplier of decorative fabrics with a presence in domestic and global markets. The company maintains research and sales centres in the US and operates furniture factories in both Vietnam and China. (Writing by Eman Hamed; Editing by Anoop Menon)
Zawya
19-05-2025
- Business
- Zawya
Egypt: SCZONE pens $15mln deal with China's GS Global Sourcing
Arab Finance: Waleid Gamal El-Dein, the Chairman of Suez Canal Economic Zone (SCZONE), inked a contract with GS Global Sourcing Co. Ltd, a Chinese company specializing in ready-made garments, according to a statement. The project will be fully self-financed, with investments totaling $15 million (EGP 751.5 million). Located in the Qantara West Industrial Zone, the facility will cover an area of 27,000 square meters, and it is expected to provide around 2,000 direct job opportunities. The project aims to produce more than 12 million pieces of ready-made garments annually, which will be fully allocated for export. This agreement follows three other contracts recently signed at a total value of $80.5 million for Chinese projects in the Qantara West Industrial Zone. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
