Elsewedy, Chinese textile firms sign $65m deals for new factories in Egypt’s SCZONE

Egypt’s Elsewedy Industrial Development has signed contracts worth over $65 million with four major Chinese textile companies to build new factories in Sokhna 360, its industrial city within the Suez Canal Economic Zone (SCZONE), the zone’s authority said Monday.

The projects, covering a total area of 238,000 square metres, are expected to create more than 3,000 direct jobs, SCZONE said in a statement. The agreements were facilitated in coordination with the Egyptian Commercial Service (ECS) as part of efforts to attract more foreign investment to Egypt.

SCZONE did not name the Chinese firms involved in the deals.

SCZONE Chairman Waleid Gamal El-Dien said the new investments underscore “rising investor confidence in the zone’s business climate and its contribution to Egypt’s industrial development strategy.” He added that the SCZONE has become one of the region’s most competitive investment destinations, citing its world-class infrastructure, strategic location, and attractive incentives.

He highlighted the textile industry as a key growth driver for the zone, with strong potential to expand local production, deepen industrial integration, and increase exports.

Elsewedy Industrial Development CEO Mohamed AlKammah said the deals reflect international trust in Egypt’s industrial ecosystem and the company’s role in providing integrated, sustainable infrastructure. “We continue to invest in smart and green solutions to enhance the efficiency and competitiveness of our industrial cities,” he said.

The Suez Canal Economic Zone is one of the region’s largest integrated industrial and logistics hubs, encompassing six seaports and four industrial areas, and serves as a cornerstone of Egypt’s strategy to attract foreign investment and strengthen its export base.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser