حفلة 2024

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

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.

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