Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZONE) has signed a contract with Türkiye-based companies Dinamik Raus Tekstil and Yiltem Apparel to establish a ready-made garments and textiles factory in the Qantara West Industrial Zone, with investments valued at $8 million, as per a statement.

The project will be developed over an area of 21,000 square meters and will focus on the production of ready-made garments and various textile products. The facility will incorporate manufacturing, dyeing, and fabric treatment technologies and is expected to create around 700 direct jobs. Approximately 90% of production will be directed to export markets, while 10% will be allocated to the domestic market.

SCZONE's Chairman Waleid Gamal El-Dien said the agreement reflects continued investment activity in the Qantara West Industrial Zone, noting that the area has become a regional hub for textile and garment manufacturing.

He added that the sector continues to expand, supported by integrated production chains and partnerships with investors from multiple countries, contributing to export growth and job creation.

He noted that SCZONE continues to provide support and facilitation to investors to accelerate project implementation and ensure timely operation, including monitoring execution phases and reviewing contractual commitments.

With this project, the total number of Turkish projects in Qantara West rises to 15, bringing total Turkish investments in the zone to about $560.2 million, in addition to another project under an Egyptian-Turkish partnership valued at $2.1 million.

YILTEM Apparel, established in 2002, has a production capacity of 400,000 pieces per month and serves several European markets.

Dinamik Raus Tekstil, founded in 2017, specializes in fabric dyeing using techniques such as reactive, antique, bonding, natural, and organic dyeing, using industrial processing methods for textiles.