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Daily News Egypt
a day ago
- Business
- Daily News Egypt
SCZONE signs $52.6m textile industry deals during China investment tour
The Suez Canal Economic Zone (SCZONE), chaired by Walid Gamal El-Din, signed on Tuesday three new contracts with leading Chinese textile and ready-made garment companies, totalling approximately $52.6m (EGP 2.58bn) in investments. Together, these projects are expected to create around 3,500 direct job opportunities. The agreements were signed in Nanjing, Jiangsu Province, during the Authority's investment promotion tour across several Chinese provinces aimed at deepening industrial cooperation and attracting further Chinese investment in priority sectors within the SCZONE. One of the contracts was signed with Changzhou East Noah Printing and Dyeing Co. Ltd, a top Chinese firm and certified supplier to major global brands. The company will establish an integrated textile factory on an 80,000 sqm plot in the Qantara West Industrial Zone, dedicated to spinning, weaving, and fabric production. The $20m project, fully self-financed by the company, is set to generate around 1,000 direct jobs. The new factory will span all stages of textile manufacturing—from ultra-fine polyester fiber yarn production and knitting, to printing, dyeing, and finishing—producing home textiles such as blankets, bed linens, and quilts. It will have a daily production capacity of 80 tonnes and is projected to deliver up to eight million finished home textile items annually, with 90% of output designated for export and 10% for the local market. A second agreement was signed with Changzhou Golden Spring Textile Co., Ltd, a major integrated player in the textile sector that exports to over 40 countries and has a brand presence in more than 20 international markets. The company plans to establish a factory on an 85,000 sqm site in Qantara West to produce luxury textiles and home furnishings, with a total investment of $24m, also fully self-financed. This project is expected to create another 1,000 direct jobs. With an annual production capacity of 15,800 tonnes of fabrics and two million finished textile products, the factory will focus on blankets, bed linen sets, and quilted duvets. As with the first project, 90% of production is planned for export to markets across the Middle East, North Africa, Europe, and the Americas, with the remainder serving the local market. The third contract was signed with Jiangsu Sainty Corporation Ltd., part of SOHO Holdings Group, to establish a ready-made garments factory on a 40,000 sqm plot in Qantara West. The $8.6m project, also self-financed, will create approximately 1,500 direct jobs and will dedicate 100% of its production to export markets. The company brings over four decades of experience, exporting to about 100 countries worldwide, including the United States, the European Union, and Canada. Gamal El-Din noted that these new agreements reflect the SCZONE's ongoing successful cooperation with the Chinese business community, a key strategic partner in the Authority's development plans. With these latest contracts, the number of Chinese projects in the Qantara West Industrial Zone now stands at 18. He highlighted that the textile sector is among the SCZONE's top priorities for localisation, given its strong potential for integration with related industries and its ability to create large-scale employment. To support this, the Authority has designated a prime area within Qantara West specifically for textile activity. 'These agreements confirm the SCZONE's success in attracting quality industrial investments through international partnerships and integration,' Gamal El-Din added, 'supporting national efforts to boost local manufacturing and expand export capacity.' With the addition of these three projects, the total number of contracted projects in the Qantara West Industrial Zone has now reached 28, representing total investments of around $734.1m. Collectively, these projects cover nearly 1.8 million square metres and are expected to create 38,455 direct job opportunities—reinforcing the SCZONE's growing role as a leading industrial hub supporting Egypt's ambition to strengthen its global position in textiles and ready-made garments.
Al-Ahram Weekly
16-07-2025
- Business
- Al-Ahram Weekly
SCZone secures $100 mln deal to develop industrial land in Ain Sokhna
The Suez Canal Economic Zone (SCZone), the Main Development Company (MDC), and TEDA Egypt signed a $100 million contract on Tuesday to develop 2.86 km² of industrial land in Ain Sokhna, transforming it into an advanced industrial hub. According to a cabinet statement, Prime Minister Mostafa Madbouly, SCZone Chairman Walid Gamal El-Din, Minister of Industry and Transport Kamel El-Wazir, and other senior representatives from MDC and TEDA Egypt attended the signing ceremony held in New Alamein. The expansion will increase TEDA Egypt's total area in Ain Sokhna to approximately 10 square kilometres, following the near completion of its previously allocated 7-square-kilometre plot, read the statement. During the ceremony, PM Madbouly emphasized the importance of cooperation to accelerate industrial development within the SCZone, highlighting the region's competitive advantages that position it as a key regional hub for manufacturing and logistics. He praised the SCZone's success in encouraging developers to pursue further expansions. Meanwhile, Gamal El-Din described the signing as a strategic step, affirming that SCZone's partnership with MDC and TEDA Egypt opens the door for implementing a comprehensive development plan. This aligns with the authority's strategy to localize industries and deepen domestic manufacturing within the zone. He also highlighted that the expansion provides a new platform for localizing target industries and enhances the SCZone's appeal to Chinese companies aiming to reach regional and international markets. Over the past three years, SCZone has attracted more than $4 billion in Chinese investments, with mutual trust and aligned development goals expected to double this figure soon. TEDA Egypt, established in 1984, is one of the leading industrial developers in the SCZone, known for its extensive experience in creating industrial communities. It has successfully attracted numerous Chinese and international investments to the area over the past years. MDC, an Egyptian shareholding company founded in 2006 to be the main developer of SCZone, is responsible for managing and developing industrial assets within the authority. Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
15-07-2025
- Business
- Al-Ahram Weekly
Nile Plastic Recycling Company expands with $15 mln investment in SCZone - Economy
The Suez Canal Economic Zone (SCZone) announced Tuesday the expansion of the Nile Plastic Recycling Company's project in Ain Sokhna, with an additional $15 million investment aimed at establishing a new polyethylene terephthalate (PET) recycling facility. The agreement was signed in the New Administrative Capital in the presence of SCZone Chairman Walid Gamal El-Din. According to a statement from the General Authority for the SCZone, the new investment—equivalent to around EGP 742 million—will fund a 10,000-square-metre facility designed to process PET, the key raw material used in food-grade plastic bottles. The expansion is expected to create 500 new direct job opportunities and produce 20,000 tons of processed plastic waste annually. The project will export 70 percent of its output, with the remaining 30 percent allocated to the local market, aligning with Egypt's broader industrial export strategy and efforts to increase the value of domestically recycled products. The Nile Plastic Recycling Company initially launched in November 2024 with $20 million in capital. Its first facility spans 12,000 square metres and is expected to begin operations in the first half of 2026. Gamal El-Din praised the company's progress in the first phase and said the expansion reflects growing investor confidence in the industrial environment of the SCZone. He added that the move aligns with the zone's green economy strategy and Egypt's broader push toward sustainable, low-emission industries. 'We continue to attract quality investments in the circular economy and green transformation,' Gamal El-Din said, noting that recycling projects are a core pillar of this transition. The signing ceremony was attended by senior SCZone officials and company representatives. Follow us on: Facebook Instagram Whatsapp Short link:
Daily News Egypt
13-07-2025
- Business
- Daily News Egypt
Hayat Egypt breaks ground on new production lines in Ain Sokhna with $44m investment
Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), attended on Sunday the foundation stone laying ceremony for new production lines at the Turkish 'Hayat Egypt' factory for hygiene products. The expansion covers 30,000 square metres within the Orascom Industrial Parks development, located in the integrated Ain Sokhna zone under SCZONE's jurisdiction. Backed by a total investment of $44m (around EGP 2.2bn), the new lines will focus on manufacturing nonwoven hygiene products. Once operational—expected by March 2026—the project will create over 400 direct job opportunities, with 75% of output earmarked for export markets. The ceremony was attended by Tarek El-Shazly, Governor of Suez; Salih Mutlu Şen, Turkish Ambassador to Cairo; Şenol Keserlioğlu, General Manager of Hayat Egypt; and senior representatives from SCZONE and Orascom Industrial Parks. Gamal El-Din highlighted that SCZONE has recently succeeded in attracting a diversified portfolio of investments in line with its localisation strategy. He noted that the expansion of Hayat Egypt signals renewed Turkish investor confidence in the Zone. Today, 18 Turkish companies operate across SCZONE's areas, especially in textiles, ready-made garments, and hygiene products, with combined investments reaching about $793.8m. This includes 10 companies in the integrated Ain Sokhna zone with $508m in investments, and 8 companies in Qantara West with a further $285.8m. 'These expansions reflect strong trust from Turkish investors in SCZONE's investment climate,' Gamal El-Din said. He attributed this trust to SCZONE's intensive global promotion campaigns, major infrastructure upgrades built to international standards, and recent progress in digitising one-stop-shop services to better serve investors. Gamal El-Din also expressed hope for growing investment from a broader range of countries, supporting SCZONE's vision to localise and deepen industrialisation in targeted sectors and boost Egyptian exports. He stressed that Egypt's current political and economic stability, coupled with robust international relations, makes it an attractive destination for investors and strengthens its position as a global hub for industry and logistics services.
Al-Ahram Weekly
13-07-2025
- Business
- Al-Ahram Weekly
Hayat Egypt breaks ground on new hygiene products plant in SCZONE - Economy
Hayat Egypt Hygienic Products, S.A.E., a subsidiary of the global fast-moving consumer goods (FMCG) giant Hayat, has laid the foundation stone for its new hygiene production facility in Ain El Sokhna, located within the Suez Canal Economic Zone (SCZONE). Hayat is a global FMCG leader, producer of hygiene, tissue, home care, and personal health products to consumers in over 100 countries. It is the fourth largest branded baby diaper manufacturer in the world and the largest tissue manufacturer across the Middle East, Eastern Europe, and Africa. The high-level groundbreaking ceremony was attended by Salih Mutlu Şen, Ambassador of the Republic of Türkiye to Egypt; Walid Gamal El-Din, Chairman of SCZONE; Governor of Suez, Tarek Hamed El Shazly; and Senol Keserliogu, General Manager of Hayat Egypt, alongside senior officials and business leaders from both nations. The new factory is expected to employ over 400 Egyptian workers and will produce baby diapers and feminine hygiene products. Significantly, 75 percent of its output is earmarked for export markets, with the remaining 25 percent supplied domestically. The facility is scheduled to be fully operational by March 2026, boosting Hayat Egypt's hygiene production capacity by 55 percent. Speaking at the event, Mr. Senol Keserliogu, GM of Hayat Egypt, said: 'Egypt continues to be a strategic hub for Hayat's operations, and today's milestone reflects our promise to expand our footprint to meet both local and global demand.' Ambassador Salih Mutlu Şen emphasised the broader context of Turkish investment in Egypt, noting, 'This investment affirms the trust Turkish companies have in Egypt's market potential and stable expansion environment.' From the SCZONE perspective, Chairman Walid Gamal El-Din highlighted the zone's growing attractiveness to foreign investors. According to Gamal El-Din, 'These investments reflect strong confidence in the SCZONE's investment climate. Thanks to upgraded infrastructure, world-class utilities, and streamlined digital services, we are creating a seamless environment for global companies to thrive. Hayat's expansion within the SCZONE reaffirms our role as a regional hub for industrial innovation and export-oriented manufacturing.' Echoing this sentiment, Governor Tarek Hamed El Shazly said: 'Laying the foundation stone for Hayat Egypt's new factory marks a new milestone that reflects the growing investment in the Suez Canal Economic Zone. We welcome all investments that contribute to driving development and creating job opportunities.' The facility is a key component of Hayat's strategic expansion plan, bringing the company's total investment in Egypt to $632 million. This development aligns with Egypt's national vision to increase high-value manufacturing, grow exports, and create sustainable employment in strategic sectors. Egypt and Turkey seek to boost economic ties and raise bilateral trade from $9 billion to $15 billion. Follow us on: Facebook Instagram Whatsapp Short link:
