Canada’s Avelon signs deal for technical textiles plant in Egypt’s East Port Said

Egypt’s Suez Canal Economic Zone (SCZONE) signed an agreement with Canada’s Avelon on Thursday to build a technical textiles manufacturing plant in the East Port Said Industrial Zone, as Egypt seeks to attract export-oriented industrial investment.

The first phase of the project will involve a $27 million investment and is expected to create 200 direct and 50 indirect jobs, with all output destined for export markets in the United States and Europe, according to SCZONE.

The facility will be built on a 24,183-square-metre site and will produce specialised technical textiles for waterproofing, building protection, soil reinforcement, and infrastructure applications.

The agreement was signed at SCZONE’s headquarters in the New Capital in the presence of Chairman Waleid Gamal El-Dien. The project will be developed within the East Port Said Development Company industrial zone.

SCZONE said the investment plan also includes a second expansion phase that is currently under study.

Gamal El-Dien said the project reflects the growing ability of the East Port Said Industrial Zone to attract high-value manufacturing investments focused on exports.

“The integration between the East Port Said Industrial Zone and East Port Said Port provides investors with significant logistical advantages that help reduce transportation and shipping costs and improve access to global markets,” he said.

He added that the port’s position among leading global container hubs strengthens the competitiveness of manufacturers operating in the zone and supports SCZONE’s strategy of localising export-oriented industries and deepening industrial value chains.

SCZONE has stepped up efforts to attract foreign direct investment into export-oriented industries, leveraging its strategic location and logistics infrastructure as Egypt seeks to boost manufacturing, exports, and job creation.

Attribution: Amwal Al Ghad English