The project, expected to create around 2,500 direct jobs, will produce nearly 7 million pieces of RMG and denim products annually, with four-fifths of output meant for exports.
The Suez Canal Economic Zone has signed a $16.5-million pact with Turkish firm ELA Tekstil to set up a RMG and denim factory in the Qantara West Industrial Zone.
The project, expected to create around 2,500 direct jobs, will produce nearly 7 million pieces of RMG and denim products annually, with four-fifths of output meant for exports.
This project brings the total number of projects in the Zone to 42.
SCZONE chairman Waleid Gamal El-Dein said this agreement reflects the success of the authority’s efforts in attracting specialised industrial investment at Qantara West, according to domestic media reports.
This project brings the total number of projects in the Qantara West Industrial Zone to 42, with a total investment of around $1.14 billion in this sector.
Fibre2Fashion News Desk (DS)
