Latest news with #QantaraWest
Yahoo
07-07-2025
- Business
- Yahoo
Turkiye denim producer signs $20m Egypt factory deal to boost exports
The deal, valued at $20m, is expected to generate approximately 500 direct employment opportunities. The factory is projected to produce up to 18 million tonnes of denim fabric each year. Half of this output is designated for export, while the remaining half will supply domestic factories in Egypt. Covering 16,700m2, the plant will focus on producing denim yarns, threads, and fabrics, which serve as the foundational materials for different types of jeans textiles. The agreement was formalised by General Authority of the Suez Canal Economic Zone chairman Walid Gamal El-Din and Şirikçioğlu Grubu chairman Atef Şirikçi. Walid Gamal El-Din said that 'the Suez Canal Economic Zone continues to intensify its efforts during the current phase to attract more investments in the sectors that the authority aims to localise within its strategy, in order to achieve the state's goals of deepening local manufacturing and increasing exports'. The authority also commits to improve the region's infrastructure to align with increasing international demand for goods by enhancing supply chains and integrating them with the economic zone's ports on both the Red Sea and Mediterranean as well as its industrial and logistics zones, the authority chairman said. The latest undertaking marks the 25th project within the Qantara West Industrial Zone, bringing the total investments in the area to $681.5m and creating 34,955 direct jobs. 'This confirms the success of the strategic approach followed by the authority to promote export industries, deepen the local manufacturing system, and localize supply chains in the spinning and weaving sector, starting from the manufacture of raw materials, through the stages of denim fabric production, which is the raw material for producing jeans, and ending with the ready-made garment industry,' Walid Gamal El-Din stated. Şirikçioğlu Grubu Textile Turkiye, which was established in 1997, produces denim threads and fabrics. With a workforce exceeding 5,000 across its factories in the country, the company exports its textile products to numerous global brands. Waleid Gamal El-Dien recently signed a contract with Turkiye company Ulusoy for the establishment of an industrial project on a 35,000m2 land plot in the Qantara West Industrial Zone. This factory will produce fibre yarns, carpet yarns, hand-knitting yarns, tricot yarns, and household crochet yarns. The $18m project is expected to generate around 855 direct job opportunities. In August last year, Turkiye's Eroglu Garment started construction on a $40m ready-made garment factory in the Qantara West Industrial Zone. "Turkiye denim producer signs $20m Egypt factory deal to boost exports" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
24-06-2025
- Business
- Zawya
Egypt: SCZone inks $20mln denim project in Qantara West
Arab Finance: The General Authority of the Suez Canal Economic Zone (SCZONE) has signed a $20 million contract with Turkish company ?irikçio?lu Grubu to establish a denim manufacturing plant in the Qantara West Industrial Zone, as per a statement. The project will span 16,700 square meters and will focus on producing denim yarns, threads, and fabrics—the essential raw materials for jeans production. Half of the plant's annual output, projected at 18 million tons of fabric, will serve export markets, while the other half will meet the demands of local Egyptian factories. The facility is expected to create around 500 direct job opportunities. Chairman of SCZone Walid Gamal El-Din described the project as a significant step in SCZONE's broader strategy to localize high-value textile industries and enhance Egypt's export capacity. He noted that this marks the 25th project in the Qantara West Industrial Zone, bringing total investments there to $681.5 million and generating 34,955 direct job opportunities. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
23-06-2025
- Business
- Zawya
Egypt: Suez Canal contains RED ZED 1 grounding in 1 hour with no injuries
Arab Finance: The Suez Canal Authority (SCA) successfully managed the grounding of the RED ZED 1 diving vessel in just 60 minutes with no injuries or human losses reported, according to a statement issued by the authority's Chairman Osama Rabie. The incident occurred on Friday, June 20th, when the RED ZED 1, transiting the canal as part of the northern convoy, experienced a sudden steering failure at kilometer 45 near the Qantara West ferry dock. Rabie confirmed that the vessel sustained minor damage, which is currently being assessed, but remains overall safe. The RED ZED 1, measuring 217 meters in length and 43 meters in width with a capacity of 41,000 tons, was en route from the Netherlands to Sudan at the time of the incident. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
19-06-2025
- 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
19-06-2025
- 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. (
