Egypt signs $40m deal with Eroglu Egypt for garment factory

By Aya El Sayed On May 28, 2024

Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), Mr. Ömmet Eroğlu, Owner of Eroglu Egypt, signed a land usufruct contract for an area of 65,000 square meters to establish "Eroğlu Egypt Readymade Garments" factory in the Qantara West Industrial Zone.

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

The contract aims to establish the Eroğlu Egypt Readymade Garments factory in the Qantara West Industrial Zone, with a total investment of $40 million.

This factory, expected to create over 3,000 jobs, aims to make Qantara West a regional hub for the textiles and ready-made garments industry.

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 $3.226 billion in the 2023–2024 fiscal year.

Last April, SCZONE signed a contract with Turkey’s Eroğlu Global Holding A.S. to build a jeans garment factory in the same zone, targeting an annual production of 7.2 million jeans, with 70 per cent for export and 30 per cent for the local market.