Arab Finance: Waleid Gamal El-Dein, the Chairman of Suez Canal Economic Zone (SCZONE), inked a contract with GS Global Sourcing Co. Ltd, a Chinese company specializing in ready-made garments, according to a statement.

The project will be fully self-financed, with investments totaling $15 million (EGP 751.5 million).

Located in the Qantara West Industrial Zone, the facility will cover an area of 27,000 square meters, and it is expected to provide around 2,000 direct job opportunities.

The project aims to produce more than 12 million pieces of ready-made garments annually, which will be fully allocated for export.

This agreement follows three other contracts recently signed at a total value of $80.5 million for Chinese projects in the Qantara West Industrial Zone.

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