Egypt’s SCZONE approves $155m investments in 5 new projects

Egypt’s Suez Canal Economic Zone (SCZONE) approved five new projects worth a combined $155 million, covering 441,000 square metres and set to create 5,100 direct jobs, the authority’s board announced on Monday.

Four of the projects are located in West Qantara, including:

• A $22.6 million textiles and home fabrics factory by China’s Changzhou Ramada.
• An $8 million ready-made garments plant by China’s Shunfeng.
• A $35.2 million ready-made clothing factory by Pakistan’s Interloop Group, specialising in socks, denim, and sportswear for global brands.
• An $85 million PVC flooring and wall panels factory by China’s Jiangsu Zhengyong.

Additionally, Sigma Egypt, a joint Egyptian–Turkish venture, will establish two bonded warehouse and container service areas on a combined 100,000 square metres — 50,000 sqm in Qantara West and 50,000 sqm in Sokhna — with $4.2 million in investments.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser