Egyptian textile manufacturer CWA to develop EGP 970M project in SCZone
Updated 7/30/2025 12:36:00 PM
Arab Finance: Egypt–based CWA Company signed a deal to set up a textile project within the Sokhna Industrial Zone, with an investment cost of EGP 970 million ($19.9 million), according to a statement.
The factory, which will be self-financed by the company, is expected to commence the operation and production during the third quarter (Q3) of 2026.
Spanning an area of 15,000 square meters, the project is expected to provide approximately 200 direct job opportunities in its first phase, with a plan for gradual expansion to reach 500 jobs over five years.
Waleid Gamal El-Dien, the Chairman of the General Authority of the Suez Canal Economic Zone (SCZone), witnessed the signing ceremony.
Gamal El-Dien said the project represents an important step towards deepening local industry within the SCZone, affirming that the authority is working to attract sustainable industrial investments.
These investments will contribute to enhancing the added value of Egyptian products and boosting their competitiveness regionally and internationally.
He noted that the textile sector provides local alternatives to imported products, supporting supply chains for diverse industries such as ready-made garments and furniture.
It also has the potential to expand exports, especially with the availability of the necessary components, including skilled labor and integrated logistics services within the authority's scope.
On his part, the company’s head pointed out that the project is scheduled to be implemented over a period ranging from 12 to 48 months.
This project aligns with the company's strategy for industrial expansion and the provision of high-quality Egyptian products for local and global markets.
The facility seeks to achieve exports worth no less than $10 million in the first year of operation, gradually increasing to $30 million over five years.
In fiscal year (FY) 2024/2025, the SCZone recorded total revenues amounting to EGP 11.425 billion.
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