SCzone inks a $40m deal with Eroğlu for West Qantara project

By Aya El Sayed On Apr 8, 2024

Mr. Waleid Gamal El-Dien, chairman of SCZONE, and Mr. Nurettin Eroğlu, Chairman of the Eroğlu Group during the signing.

Egypt’s General Authority for the Suez Canal Economic Zone (SCzone) has signed a $40 million contract with Turkish group Eroğlu Global Holding A.S. for a jeans factory project in the West Qantara Industrial Zone.

The project, spanning an area of 62 thousand square metres, is expected to create about 2,750 jobs and produce 7.2 million pieces of jeans annually.

The plan is to export 70 per cent of the production and allocate 30 per cent for the local market.

During the period from January to March 2024, SCzone contracted 37 various projects with a total investment cost of about $894 million.

Of them, 13 projects gained final permits, while 24 received early clearances, indicating a fresh investment surge for SCzone and contributing to Egypt’s growth ambitions.

contract Egypt’s development plans Eroğlu Global Holding A.S.investment jeans factory project Qantara West Industrial Zone The General Authority for the Suez Canal Economic Zone (SCZONE)Turkish group