Egypt’s SCZone to host Turkey’s Denim Rise garment factory

By Aya El Sayed On Dec 23, 2024

SCZONE Chairman Waleid Gamal El-Dien, Mr. Huseyin Güzel, a member of Turkey's Denim Rise's board of directors during the signing.

Egypt’s Suez Canal Economic Zone (SCZONE) signed a contract on Monday with Turkey’s Denim Rise to establish a ready-made garments factory with an $8.8 million investment.

The project, spanning 26,000 square metres, will create 1,000 direct jobs and export 70 per cent of its output.

“The Denim Rise project is the fourth Turkish investment in the West Qantara Industrial Zone, which indicates the depth of economic relations between the two countries. It promises a future that carries more cooperation for development,” said SCZONE Chairman Waleid Gamal El-Dien.

This deal marks the ninth contract signed for SCZONE’s first phase in the West Qantara Industrial Zone, bringing total investments in the zone to $317.8 million.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama