Foundation Stone Laid For High-End Chinese Textile Factory In Egypt
On August 27th, the General Authority of the Suez Canal Economic Zone (SCZONE) marked a significant milestone with the laying of the foundation stone for the Cady-Egypt factory. This facility, situated within the expansive Sokhna Integrated Industrial Zone’s 6 km phase, specializes in producing premium functional and environmentally friendly textile fabrics and seamless intelligent garments using smart manufacturing techniques.
Covering an expansive area of 145.5 thousand square meters, the Cady-Egypt factory is poised to become the largest establishment within the TEDA-Egypt industrial developer’s domain. This strategic project is a result of constructive economic collaboration between SCZONE and Chinese investments. The sprawling Chinese industrial zone, TEDA-Egypt, boasts over 130 industrial and service facilities with investments totaling $1.6 billion.
The factory’s scope encompasses 6 buildings, planned to be constructed in 3 phases. The inaugural phase is scheduled to commence in 2023, with completion anticipated before the close of 2024. Post-construction, the factory is projected to yield approximately 50 thousand tons of environmentally friendly textiles and fabrics, along with 8 million units of seamless clothing annually. The planned investment in Egypt by the company amounts to $60 million, with expected sales of around $150 million.
Waleid Gamal El-Dien, chairman of SCZONE, expressed pride in the diverse projects within SCZONE and highlighted the fruitful partnership with Chinese investments, hinting at further collaboration in the future. He emphasized SCZONE’s commitment to supporting the textile sector by providing essential infrastructure, regulatory frameworks, and trade agreements that facilitate access to neighboring markets.
Lai Siqing, Vice Chairman of TEDA China – Africa, celebrated the Cady Egypt project’s foundation stone laying and lauded SCZONE for fostering a favorable business environment and supporting Chinese enterprises. The event coincided with the 15th anniversary of TEDA Egypt’s establishment and the 10th anniversary of the Belt and Road Initiative.
Shi Yi, CEO of Zhejiang Cady Industrial Company, detailed the company’s specialization in polyester fabric manufacturing, dyeing, and printing. Expressing commitment to environmentally conscious practices, he cited Egypt as the company’s inaugural foreign investment destination in light of the Belt and Road Initiative.
The Cady-Egypt factory launch symbolizes a significant step towards sustainable textile production and underscores the strong economic cooperation between SCZONE and Chinese investors.
