Egypt: SCZONE inks $80.5mln contracts for 3 Chinese projects in Qantara West Industrial Zone
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.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
9 hours ago
- Zawya
Liberia: President Boakai Inaugurates US$1.4 Billion ArcelorMittal Concentrator Plant in Nimba County
President Joseph Nyuma Boakai, Sr. has officially inaugurated the US$1.4 billion Concentrator Plant at the Mt. Tokadeh Mining Site in Nimba County, operated by ArcelorMittal Liberia. The facility represents one of the largest private sector investments in Liberia's postwar history and signals a renewed era of industrial development, job creation, and economic transformation. The President's visit included a guided tour of the newly completed facility which is scheduled to begin full operations later this month. The plant, originally initiated in 2012, was paused due to the 2014 Ebola crisis. Construction resumed in 2021, integrating modern technology and updated engineering designs. Speaking at the ceremony, President Boakai welcomed the launch as a strong vote of investor confidence in Liberia's stability and future. 'This level of investment is a testament to the growing confidence in the security and wellbeing of our state, and in the positive direction of our investment climate,' President Boakai remarked. He furthered, 'We are proud to witness this expansion—an achievement that touches the lives of our people and represents progress not just in infrastructure, but in human capacity and national pride.' The Project has already created over 5,000 construction jobs and is expected to generate 1,000 permanent positions. The Liberian Leader emphasized that the economic impact of such investment is far-reaching. 'This brings great relief to our economy. It's not just about the scale of capital—it's about the thousands of lives being touched, families being supported, and skills being developed,' the President noted. He commended ArcelorMittal Liberia for its vision and resilience, urging the company to continue advancing its additional investment commitments, including the Railway Expansion, Port Enhancement, and Power Plant Installations. 'We commend ArcelorMittal Liberia for this bold and courageous step, and we encourage continued momentum in all aspects of the company's investment roadmap,' President Boakai said. 'These projects are essential to deepening Liberia's integration into global value chains and unlocking long-term benefits for our people,' he intoned. He also emphasized the importance of Corporate Social Responsibility (CSR) and encouraged the company to expand its support in areas such as education, healthcare, and local commerce, reinforcing the mutually beneficial nature of sustainable development. 'No doubt, a project of this magnitude must enrich the corporate social responsibility envelope,' he said, adding, 'Our communities must feel the impact not just in employment, but in schools, clinics, and markets.' President Boakai concluded by extending appreciation to all stakeholders, particularly the engineers, workers, and community members who contributed to the Project's realization. He reaffirmed the Government's commitment to honoring agreements and ensuring a stable environment for investment. 'We want to assure you that the benefits of this Project will be realized by our people,' he said. 'We do not want any disruptions. We are committed to seeing this through—for the good of Liberia and the future of our younger generation,' he said. Distributed by APO Group on behalf of Republic of Liberia: Executive Mansion.
Gulf Business
18 hours ago
- Gulf Business
From Saudi to Hong Kong: Tahaluf, ewpartners take LEAP global with Asia debut
Annabelle Mander, EVP at Tahaluf, along with Jessica Wong, founder and managing partner of ewpartners. Tahaluf, the organiser of Saudi Arabia's flagship technology event LEAP, has announced a strategic partnership with global investment firm ewpartners to launch LEAP East, a new Asia-Pacific edition of the mega event. It will take place in Hong Kong from 8-10 July 2026, marking the first time LEAP is held outside the Kingdom. The move underscores Saudi Arabia's deepening strategic focus on Asia and positions Hong Kong as a new gateway for Middle Eastern engagement with China and the broader region. 'With this timely and strategic expansion, we are bringing LEAP's award-winning vision and world-class innovation into this exciting new Hong Kong venture, creating a powerful platform for entrepreneurs, investors, and businesses to connect, collaborate and build the future of technology,' said Faisal AlKhamisi, chairman of the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), during an announcement at LEAP 2025 in Riyadh. 'Attendees will engage directly with the world's leading innovators, investors, and industry pioneers, making LEAP East a must-attend event for anyone shaping the digital future,' he added. LEAP East is expected to attract over 25,000 visitors, more than 200 speakers, and 300+ exhibitors across AI, fintech, healthtech, deeptech and more. Featured speakers will include Luanne Lim, CEO of HSBC Hong Kong; Jeanne Lim, CEO of beingAI and co-creator of Sophia the Robot; and Harry Man, founding partner at Matrix Partners. The event will also feature investment zones, startup showcases and exclusive networking sessions such as LEAP East Nights. The announcement was made during the opening of ewpartners' new Hong Kong office, attended by over 100 senior officials and business leaders from Saudi Arabia and Hong Kong. Attendees included representatives from OASES, HKEX, UBS, and HSBC. Peter Yan, director general of Hong Kong's Office for Attracting Strategic Enterprises (OASES), said LEAP East 'could serve as a dynamic bridge between Hong Kong and the Middle East, empowering enterprises to collaborate, co-develop innovations, and unlock new market opportunities together. We appreciate ewpartners' pivotal role in making this initiative a reality, strengthening cross-regional partnerships, driving global growth through shared success, and reinforcing Hong Kong's position as a global innovation hub.' LEAP was launched in Riyadh in 2021 through a partnership with Saudi Arabia's Ministry of Communications and Information Technology and SAFCSP. In 2025, the event drew 215,000+ attendees, 1,800+ exhibitors, and 1,600+ investors, generating $14.9bn in announced deals and an economic impact of $820m. Annabelle Mander, executive vice president at Tahaluf, said: 'LEAP was created in Riyadh to position Saudi Arabia as a global innovation hub. After four record-breaking editions, we're taking our next bold step, bringing LEAP to Hong Kong. This city is not only a gateway to Asia, but a proven launchpad for global ambitions. Through our partnership with ewpartners, we're proud to build a platform that unites Saudi and Asian-Pacific innovators on one world stage.' Jessica Wong, founder and managing partner of ewpartners, added: 'Our mission at ewpartners is to unlock high-value opportunities between the Middle East and Asia. We have been partnering with Tahaluf on LEAP for 5 years, and LEAP East further reflects that mission in action. Hong Kong has the connectivity, credibility, and creativity to host Asia's most ambitious tech platform, and we are honoured to help bring it to life.' The collaboration aims to mirror the impact of LEAP's Riyadh editions and drive significant business tourism and cross-border partnerships across Asia.
Economy ME
20 hours ago
- Economy ME
How Eid al-Adha 2025 shapes supply chain management practices
Eid al-Adha, the 'Festival of Sacrifice,' is one of the most significant events in the Islamic calendar. Many countries, especially those with big populations of Muslims, greatly feel the influence of its culture, religion and economy. For people in supply chain management, Eid al-Adha means extra demand, challenges with organizing logistics and additional pressures on industries including livestock, retail and food. Understanding Eid al-Adha and its economic significance The Eid al-Adha holiday remembers when Prophet Ibrahim was ready to sacrifice his son to obey the command of God. The most important activity during the festival is the sacrifice of sheep, goats, cows or camels and the meat is given to members of the family, friends and those in need. As a result of this celebration, people need much more livestock, meat products, retail items and logistics support. Economic impact highlights: In countries like Bangladesh, 50–60 percent of annual hide supply comes from Eid al-Adha, fueling both domestic and export-oriented leather industries. There are billions of dollars earned in the livestock industry around Eid al-Adha, with many millions being bought and sold as sacrificial animals. The sales of meat, spices and festive items have hit a peak in retailers and there is a large increase in business at restaurants and hotels. The event hires many people on a temporary basis for livestock, logistics, retail and hospitality roles. Key supply chain challenges during Eid al-Adha Demand surges and inventory management The festival brings about a fast and big increase in how much people buy livestock, meat products and similar goods. Such a rise in demand can overload the system which can lead to stock shortages and late delivery of shipments. Logistical bottlenecks Since many perishable goods, notably meat, have to be shipped and stored quickly, obstacles at ports, warehouses and distribution centers are usual. It can cause delays at every phase, from the farmer to the person buying the product. Supplier constraints Handling a big increase in demand can be a challenge for some suppliers who have not foreseen or prepared for the festival period. small and medium-sized enterprises (SMEs) are especially reliant on this. Labor shortages Because Eid al-Adha is often celebrated on a public holiday, there are not enough workers in manufacturing, warehousing and logistics. Because of this, it can cause more issues with service timings and standards. Regulatory and compliance pressures In 2025, people are paying closer attention to how companies in supply chains handle sustainability and ethical sourcing. When companies have operations in several regions, making sure their supply chain is compliant with local laws can make things more complex in festivals. Sector-specific impacts: Livestock, retail, and food supply chains Livestock and agriculture Livestock trade: Sacrificing an animal is a major part of Eid al-Adha. A huge number of livestock are moved, purchased and processed during the festive season because of the festival. Leather industry: Raw leather material for shoes and bags is often because of the rise in animal sacrifices. Most of the leather processed in Bangladesh during the year comes from hides purchased during Eid al-Adha. Agricultural inputs: Feed, veterinary services, and transportation see heightened demand as livestock volumes increase. Retail and consumer goods Retail boom: At Eid al-Adha, people usually give gifts, buy new outfits and decorate their homes. Promotions in stores and online lead to a large increase in sales for the year. E-commerce: Sales increase for online stores leading to an increase in orders that need logistics and delivery solutions to handle. Temporary labor: Additional employees are required in retail, warehousing and delivery which leads to temporary jobs. Food and beverage Meat supply chains: Sales of meat, spices and festive ingredients have gone up at grocery stores and food suppliers. Restaurants and catering: Increased patronage at restaurants and catering services, as families celebrate together. Cold chain logistics: Ensuring the freshness and safety of meat products requires efficient cold chain management, from slaughterhouses to retail outlets. Technology and innovation in Eid al-Adha supply chains Advanced forecasting and predictive analytics To manage the volatility and unpredictability of festival demand, companies are investing in advanced forecasting tools and predictive analytics. These technologies help model risk scenarios, anticipate disruptions, and adjust operations in real-time. AI-driven simulations and digital twins AI-powered simulations and digital twins are increasingly used to anticipate bottlenecks, model trade disruptions, and optimize logistics. These tools enable supply chain leaders to adapt quickly to changing conditions, such as sudden demand surges or geopolitical shifts. E-commerce logistics platforms Specialized logistics services for SMEs and e-commerce platforms are crucial during Eid al-Adha. These solutions help businesses manage increased order volumes, streamline shipping, and enhance customer satisfaction. Mobile and cloud-based solutions Mobile apps and cloud-based platforms facilitate real-time tracking, inventory management, and communication across the supply chain, improving visibility and responsiveness. Sustainability and ethical sourcing: Rising priorities Regulatory compliance In 2025, companies face heightened regulatory expectations around sustainability and ethical sourcing. Regulations such as the Uyghur Forced Labor Prevention Act (UFLPA) require transparency across supply networks, particularly in high-risk industries like textiles and apparel. Environmental impact Climate change and environmental concerns are reshaping supply chain strategies. Companies are increasingly tracking Scope 3 emissions (indirect emissions across the value chain) and developing reporting mechanisms to support climate-related disclosure frameworks. Animal welfare and Halal certification With growing consumer awareness, there is increased scrutiny of animal welfare practices and halal certification in livestock supply chains. Companies must ensure compliance with religious and ethical standards to maintain trust and market access. Read more: Eid al-Adha 2025: UAE leads global innovation with AI-powered moon sighting Resilience strategies for supply chain leaders Scenario planning and risk modeling Adopt scenario planning and risk modeling to anticipate potential disruptions—such as labor shortages, logistical bottlenecks, or regulatory changes—and develop contingency plans. Supplier diversification Reduce dependency on single suppliers by diversifying sourcing strategies. This can help mitigate risks associated with supply constraints or geopolitical tensions. Collaboration and communication Promote closer collaboration with suppliers, logistics partners, and customers. Transparent communication helps align expectations and enables faster responses to emerging challenges. Investment in tech Leverage AI, predictive analytics, and digital platforms to enhance forecasting, inventory management, and real-time decision-making. Workforce flexibility Develop flexible staffing solutions, such as temporary labor pools or cross-trained employees, to address labor shortages during peak periods. Sustainability integration Integrate sustainability and ethical sourcing into supply chain strategies. This includes tracking emissions, ensuring humane animal treatment, and complying with evolving regulatory requirements. Case Studies: Eid al-Adha 2025 GCC Region: Retail and food supply chains In the Gulf Cooperation Council (GCC), stores stock up and get prepared for Eid al-Adha many weeks ahead. Steps to ensure timely delivery are purchasing early, dealing with prices as they update and teaming up with delivery partners. E-commerce companies use demand forecasting from AI to ensure their inventory is well-optimized and there are no stockouts. India: Managing festive season disruptions Leading supply chain managers in India use advanced techniques and adjust their labor plans to deal with the certain challenges of the festival, including Eid. Firms turn to predictive methods and keep suppliers informed to resolve sudden rises in demand and supply chain issues. Bangladesh: Livestock and leather supply chain In Bangladesh, Eid al-Adha accounts for the majority of the country's annual hide supply. The festival triggers a coordinated effort across the livestock, transportation, and leather processing sectors. Despite the logistical challenges, the sector has adopted digital platforms for livestock trading and inventory tracking, improving transparency and efficiency. Frequently asked questions (FAQs) How does Eid al-Adha affect supply chains? Eid al-Adha causes a sharp increase in demand for livestock, meat, retail goods, and logistics services. This surge can overwhelm supply chains, leading to stockouts, logistical delays, and labor shortages. What industries are most impacted by Eid al-Adha? The livestock, leather, retail, food, and logistics industries experience the most significant impact. The festival drives massive sales in livestock and meat, boosts retail and hospitality sectors, and supplies raw materials for the leather industry. What are the main supply chain challenges during Eid al-Adha? Key challenges include demand surges, logistical bottlenecks, supplier constraints, labor shortages, and increased regulatory compliance pressures. How can companies prepare their supply chains for Eid al-Adha? Companies should invest in advanced forecasting, diversify suppliers, collaborate closely with partners, leverage technology, and develop flexible workforce strategies. Early planning and scenario modeling are essential for resilience. What role does technology play in managing Eid al-Adha supply chains? Technology—such as AI-driven forecasting, digital twins, and e-commerce logistics platforms—enables real-time decision-making, improves visibility, and helps companies adapt quickly to changing demand and disruptions. Are there sustainability concerns in Eid al-Adha supply chains? Yes. Companies face increasing pressure to ensure ethical sourcing, humane animal treatment, and environmental sustainability. Regulatory compliance and consumer expectations are driving greater transparency and sustainability integration. How does Eid al-Adha contribute to economic growth? The festival fuels economic growth by boosting sales in retail, food, and livestock sectors, creating temporary jobs, and supporting industries like leather and logistics. Final word Eid al-Adha makes a big and varied impact on supply chain management. Because the festival is a major economic event, it leads to new opportunities as well as difficulties that affect supply chain networks around the world. In 2025, the use of sophisticated technologies, increased government checks and altered consumer wishes are altering the tactics companies employ for Eid al-Adha. Innovation, teamwork and sustainability among supply chain leaders are ways to use the challenges of Eid al-Adha to improve competitiveness, meet customers' needs and grow for the future.
