June 22, 2024
Industry

Turkish Company To Set Up 7.2mn Jeans Pieces Unit In Egypt

Egypt’s General Authority of the Suez Canal Economic Zone (SCZONE) signed land contract with Eroglu Egypt for a 65,000-square metre area.

The contract aims to establish the Eroğlu Egypt’s readymade garments factory in the Qantara West Industrial Zone at a total investment of $40 million.

“This factory, which is expected to create over 3,000 jobs, aims to make Qantara West a regional hub for the textiles and apparel industry,” Amwal Al Ghad reported.

Turkey’s Eroğlu Global Holding A.S will build a jeans garment factory in the zone, targeting an annual production of 7.2 million jeans, with 70 percent for export and the rest for the domestic market.

SCZONE Chairman, Waleid Gamal El-Dien, highlighted that this is the sixth of 15 projects planned for the zone, which has attracted 144 projects with investments totaling $3.22 billion in fiscal 2023–2024.

GlobalData, a data analysis company has called Egypt as a critical trade hub due to its proximity to the Suez Canal, one of the busiest shipping lanes in the world.

Its report shows that Egypt’s textile and apparel sector is its second-largest industrial sector, accounting for 8 percent of exports, 34 percent of industrial output and 10 percent of working population.

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