Hengcheng’s US$ 70 Mn Textile Factory in SCZone To Create 1,500 Jobs
A ceremony for Hengcheng textile factory took place in the Qantara West Industrial Zone of the Suez Canal Economic Zone (SCZone), marking a significant boost to the textile industry with $70 million in investments. The factory is expected to achieve annual sales of $300 million, contributing to industry growth.
Spanning 200,000 sq metres, the factory will be developed in two phases, each covering 100,000 square metres, and will create approximately 1,500 direct jobs.
Key figures such as Walid Gamal El-Din, Chairman of SCZone, Chen Song Fu, President of Hengcheng Company, and the Deputy Governor of Ismailia attended the signing ceremony, marking a crucial milestone in SCZone’s development. This event attracts foreign investment and strengthens Egypt’s textile industry.
SCZone has successfully attracted potential investors to the Qantara West zone, with around 15 companies expressing interest. Among these, six companies have signed final contracts, two are finalizing agreements, and seven are completing necessary procedures. These projects will create approximately 18,000 jobs, fostering economic sustainability in Qantara West. With 80 per cent of these companies focusing on international markets, this initiative aligns with Egypt’s vision of enhancing export development.
