Arab Finance: Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, witnessed the foundation stone laying ceremony for the project “ Eroglu Egypt for ready-made clothes“In the Qantara West Industrial Zone, in cooperation with the Turkish Eroglu Holding Company, the total investments of the project after expansions amount to 51 million dollars.
It is located on a total area estimated at approximately 84.2 thousand square meters, and the project is expected to provide about 5,000 job opportunities after its operation. On the sidelines of the foundation stone laying ceremony, Walid Gamal El-Din stated that the Qantara West region enjoys various competitive advantages represented by the availability of trained technical workers. , and raw materials, which qualifies it to become a global industrial fortress in the field of textile and ready-made clothing industry, as well as food industries. Work is underway to open a project in this field soon, in addition to integration with the Authority’s ports and benefiting from free trade agreements. And international, which achieves full access to about two billion consumers around the world.
He stressed that this project reflects the success of the ongoing partnership with the private sector, and represents a direct translation of the promotional efforts undertaken by the Authority during the past period, which aimed to attract investments from major international companies in the sectors targeted for localization by the Authority’s strategy. He stressed his pride in laying the foundation stone for the third project in the Qantara West area during Less than 4 months, explaining that the authority is working to create an integrated community within the Qantara West area in cooperation with state institutions, to provide various means of life, including commercial centers, bank branches, and other requirements for business success in the region.
The head of the Suez Canal Economic Zone also pointed out in his speech that the Eroglu Egypt Readymade Garment Company project is the second Turkish project in the Qantara West region, and is also among the first projects in the Qantara region after the great efforts that the Suez Canal Economic Zone has made and is still making in developing and equipping it. Its infrastructure puts it on the map of promising industrial investments in Egypt, and enhances the competitiveness of the economic zone regionally and globally as a leading industrial and logistics center, and a preferred destination for investment, with the facilities it provides. A favorable environment for investment, supported by the economic reforms that the Egyptian state was able to achieve under the leadership of President Abdel Fattah El-Sisi. This was reflected in attracting foreign investments within the authority, restoring investor confidence, and raising the competitiveness and efficiency of the business climate.
For his part, Sahin Eroglu expressed his happiness in cooperating with the Suez Canal Economic Zone to establish the Eroglu Egypt Readymade Garment Company project in the Qantara West region, which is a promising citadel for the textile and ready-made clothing industry, pointing out that this project supports economic cooperation between Egypt and Turkey. He also explained that the company has a presence in In 38 countries around the world, it has 4 factories and 8 companies, employs 15 thousand employees, and has two major international brands, with a thousand branches. Around the world, and 15 branches in Egypt, the company aims to reach 100 branches within 5 years. He also stated that the company works alongside ready-made clothing in the field of real estate development to provide decent housing for its customers, and seeks to transfer that experience to Egypt as well.
He also stressed the company's aspiration to increase its production of ready-made clothing to reach 24 million pieces of clothing annually after the opening of the new factory in the Qantara West area. He also stressed that the company adopts the principle of “humans first.” It is keen to provide intensive job opportunities in its various projects, and it always preserves the rights of future generations through its sustainability plans and policies by relying on clean energy sources, as well as recycling water in its factories to fulfill the company’s responsibility towards the environment.
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