Arab Finance: The Chairman of the Suez Canal Economic Zone (SCZone) Waleid Gamal El-Dein has officially laid the foundation stone for the Eroglu Egypt for Ready-Made Garments project in the Qantara West industrial zone, in partnership with Türkiye’s Eroglu Holding Company, as per a statement.
The project, set to cover 84,200 square meters, is expected to attract investments totaling $51 million upon its completion, with a projected 5,000 jobs to be created once operational.
Gamal El-Dein highlighted the area’s competitive advantages, including access to skilled labor and raw materials, proximity to SCZone ports, and international trade agreements that offer access to markets with over two billion consumers worldwide.
He also underscored that this project reflects the ongoing success of SCZone’s collaboration with the private sector and is a result of targeted efforts to attract international investments. He noted that this is the third project to break ground in Qantara West in less than four months, further solidifying the area’s reputation as a prime location for industrial ventures.
The Eroglu Egypt for Ready-Made Garments Company project is the second Turkish investment in Qantara West, reinforcing the region’s growing importance as a key destination for foreign capital.
Related News
