CAIRO - 15 December 2024: Waleed Gamal El-Din, Chairman of the Suez Canal Economic Zone (SCZone), signed agreements for two major projects in the dynamic West Qantara Industrial Zone. The ventures, with a combined investment of $38 million, will span 137,000 square meters and create 1,450 new jobs.
The first agreement was signed with the Turkish company Saray Biskuvi for a food manufacturing facility. This project will cover 45,000 square meters, involve an $8 million investment, and generate 450 job opportunities. Impressively, 90% of the production is designated for export.
The second deal was secured with the Chinese company Kelida, a leading player in fabrics and home textiles with over three decades of expertise.
With a $30 million investment over 92,000 square meters, the project will provide 1,000 direct jobs. Over 90% of the output will be exported to European and American markets.
Both projects are set to launch operations by the fourth quarter of 2025.
El-Din announced that these agreements bring the total number of contracts for the first phase of the West Qantara Industrial Zone to eight.
Collectively, the projects represent investments of $309 million, covering 751,000 square meters and generating approximately 14,200 job opportunities.
He emphasized the significance of these developments in positioning the zone as a world-class industrial hub, capable of attracting further investments, offering promising employment prospects, and enhancing investor confidence in record time.
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