SCZONE inks $80.5M contracts for 3 Chinese projects in Qantara West Industrial Zone
Updated 5/18/2025 7:24:00 AM
Arab Finance: Waleid Gamal El-Dein, the Chairman of Suez Canal Economic Zone (SCZONE), signed three new contracts with Chinese companies at a total value of $80.5 million to set up projects in the Qantara West Industrial Zone.
The first deal was signed with Kinlead Innovative Materials, a Chinese company specializing in flexible packaging solutions and raw materials, to establish a two-phase project on an area of 171,000 square meters.
With investments worth $60 million (EGP 3 billion), this project will have an annual production capacity exceeding 100 million tons of biaxially oriented polypropylene (BOPP) rolls and films, along with 165,000 pieces and 60,000 rolls.
The production will be fully allocated for export, offering around 600 direct job opportunities.
Marking the 18th project in Qantara West Industrial Zone, this project brings the total investments to $564.5 million, creating a total of 25,300 direct jobs.
Moreover, Gamal El-Dein penned two contracts with the Chinese Top New Garment Group and Guangdong HONGXIN Textile for projects in the textiles and ready-made garments sector, with an aggregated investment of $20.5 million.
Top New Garment Group will establish a factory to manufacture ready-made garments and sportswear, with an investment cost of $7.2 million.
Spanning 28,000 square meters, the facility will produce over 25 million pieces of clothing annually, creating 4,000 direct jobs.
Meanwhile, Guangdong HONGXIN Textile will establish a project on an area of 40,000 square meters to manufacture fabrics and textiles.
With an investment of $13.3 million, the project will provide 600 direct job opportunities. It will also have an annual production capacity exceeding 28,000 tons, 80% of which will be directed for export.
Related News
