SCZONE inks $38M contracts for 2 projects at West Qantara Industrial Zone
Updated 12/16/2024 2:27:00 AM
Arab Finance: The General Authority for Suez Canal Economic Zone (SCZONE) has signed contracts for two new projects worth $38 million, according to a statement.
The projects will focus on the food and textile industries and will be developed on an area of 137,000 square meters, creating 1,450 job opportunities.
Waleid Gamal El-Dien, Chairman of the SCZONE, signed the first contract with the Turkish company Saray Bisküvi ve G?da San. A.?.
With an investment of $8 million, this project is the first of its kind in the West Qantara Industrial Zone.
Covering 45,000 square meters, it will create 450 jobs, with 90% of production intended for export.
The second contract was signed with the Chinese company Kelida, which specializes in home textiles and has over 30 years of experience.
This $30 million project will span 92,000 square meters and create 1,000 direct jobs. Over 90% of its products will also be exported, targeting European and American markets.
The two new projects are expected to open in the last quarter of 2025.
Gamal El-Dien stated that both contracts mark the completion of signing eight projects in the first phase of development at West Qantara Industrial Zone, representing a total investment of $309 million. These projects cover 751,000 square meters and create approximately 14,200 jobs.
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