The project involves a total investment of $8.8 million, spanning 26,000 square meters, and is set to create 1,000 direct job opportunities.
Chairman of the General Authority for the Suez Canal Economic Zone (SCZone), Walid Gamal El-Din, signed a contract with Turkey’s Denim Rise for a ready-made garments project.
The project involves a total investment of $8.8 million, spanning 26,000 square meters, and is set to create 1,000 direct job opportunities. The project aims to export 70% of its total production.
The company plans to lay the foundation stone soon, with the project set to open in the second half of 2025, aligning with the launch of similar projects in the industrial zone.
El-Din highlighted the strategic significance of the Qantara West industrial zone, which is ideal for labor-intensive projects due to its proximity to the Canal and Delta governorates.
He expressed his enthusiasm for the Denim Rise project, noting it as the fourth Turkish investment in the Qantara West industrial zone, underscoring the strong economic ties between Egypt and Turkey and paving the way for further collaboration.
He also emphasized the importance of the Qantara West industrial zone in SCZone’s vision to develop infrastructure, create a favorable investment climate, and attract targeted investments.
Collaboration with Turkish investments in ready-made garments and textiles leverages available resources, supports industrial integration, and enhances the value-added of products. The zone will also host factories for garment accessories, textile printing and dyeing, and the production of bags and travel goods.
It’s worth noting that with the signing of the Denim Rise contract, SCZone has now finalized contracts for nine projects under the first phase of the Qantara West industrial zone.
These projects represent a total investment of $317.8 million, covering an area of 777,000 square meters, and are expected to create approximately 15,200 job opportunities.
