The General Authority for the Suez Canal Economic Zone (SCZone) has recently finalized an agreement with the Chinese company Shanghai Xingda to establish a ready-to-wear clothing factory in the Abu Khalifa Industrial Zone.
Covering an expansive area of 83,000 square meters, the factory requires a total investment of $40 million, with $28.5 million designated for its initial phase.
The factory's entire production will be destined for the US market, boasting an impressive annual production capacity of 43 million pieces.
Shanghai Xingda has already made several significant investments in Egypt since 2019, amounting to approximately $15 million within the Ismailia Free Zone.
Notably, Chinese investments in the Suez Canal Economic Zone represent some of the largest foreign investments, as previously highlighted by the authority.
Among the remarkable new Chinese projects inaugurated and operational within the economic zone during the fiscal year 2022/2023 is the commencement of the fourth production line at the Jushi factory, focusing on fiberglass production. This project entails an impressive investment of $320 million, capable of producing 200,000 tons annually.
Furthermore, other notable projects include a $15 million investment in a complex dedicated to manufacturing structural steel, walls, and ceilings, occupying a vast area of 27,000 square meters. Additionally, the Egypt Fanyang factory, specialized in fabric and upholstery production, represents a substantial investment of $60 million.
Moreover, the Yanjiang project, dedicated to producing sanitary hygiene products, has received investments totaling $18 million, creating employment opportunities for around 124 Egyptian workers, while producing a capacity of 11,280 tons of products annually.
Additionally, the Midea factory, designed for dishwasher production, has attracted investments amounting to $25 million and provides 240 direct job opportunities. This factory has an impressive annual production capacity of 1.5 million dishwashers.
Last but not least, the Hongtong factory, focusing on fiber optic cables, has been established with investments totaling $6 million, generating 100 direct job opportunities, and capable of producing 2 million cables annually.