Turkish Giant "Hayat" Expands in Egypt's SCZONE with $44M Investment
In a significant boost to Turkish-Egyptian economic ties and regional industrial integration, Hayat Egypt, a subsidiary of Turkish conglomerate Hayat Holding, has broken ground on a new production line for nonwoven hygiene products in the Ain Sokhna Integrated Industrial Zone—part of Egypt's Suez Canal Economic Zone (SCZone).
The expansion, covering 30,000 square meters, represents a $44 million investment (equivalent to EGP 2.2 billion), and is expected to create over 400 direct jobs.
Scheduled to become operational by March 2026, the new facility will dedicate 75% of its production to exports, underscoring Egypt's growing role as a regional manufacturing and export hub.
The groundbreaking ceremony was attended by Waleid Gamal El-Dien, Chairman of SCZone; Governor of Suez Tarek El Shazly; Turkish Ambassador to Egypt Saleh Mutlu Şen; and Hayat Egypt General Manager Şenol Keserlioglu, alongside senior officials from the industrial developer Orascom Industrial Parks.
According to SCZone data, 18 Turkish companies are currently operating in the zone, with combined investments reaching $793.8 million. This includes 10 companies in Ain Sokhna, investing $508 million, 8 companies in Qantara West, investing $285.8 million.
These investments span textiles, garments, hygiene products, and other industrial sectors, and align with the SCZone's strategy to localize key industries, deepen value chains, and enhance export capacity.
read more
CBE: Deposits in Local Currency Hit EGP 5.25 Trillion
Morocco Plans to Spend $1 Billion to Mitigate Drought Effect
Gov't Approves Final Version of State Ownership Policy Document
Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister
Qatar Agrees to Supply Germany with LNG for 15 Years
Business
Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves
Business
Suez Canal Records $704 Million, Historically Highest Monthly Revenue
Business
Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday
Business
Wheat delivery season commences on April 15
News
Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters
News
China Launches Largest Ever Aircraft Carrier
Sports
Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer
Videos & Features
Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall
Lifestyle
Get to Know 2025 Eid Al Adha Prayer Times in Egypt
Business
Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War
News
"Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence"
News
Flights suspended at Port Sudan Airport after Drone Attacks
Arts & Culture
Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language
Videos & Features
Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al-Ahram Weekly
43 minutes ago
- Al-Ahram Weekly
Low-cost carrier Wizz Air to stop Abu Dhabi operations - Markets & Companies
Hungarian low-cost airline Wizz Air said Monday that it would end its Abu Dhabi operations, which have struggled to turn a profit in the conflict-hit region. The airline will exit its Abu Dhabi hub starting from September. The seventh biggest European airline in terms of daily flights operated around 30 routes in the Middle East, which has been hit by repeated airspace closures since 2023, when the Israeli war on Gaza began. "Wizz Air will suspend all locally based flight operations effective 1 September 2025 and intends to exit from the joint venture going forward," the company said in a statement on X. Wizz Air Abu Dhabi, a joint venture with the Emirati state-owned Abu Dhabi Developmental Holding Company, was established in 2020. The airline said it had been impacted by "engine reliability constraints, particularly in hot and harsh environments", "geopolitical volatility," which caused disruptions and falling consumer demand, and "regulatory barriers." Wizz Air -- which has had to ground some of its Airbus planes because of problems with its Pratt & Whitney engines -- said it will focus on its core central and eastern European markets and selected western European countries. "This strategic realignment will enable the company to redeploy resources to regions with greater long-term potential for sustainable growth and profitability," it added. Wizz Air was founded in 2003 and has lost almost four-fifths of its value on the London Stock Exchange since peaking in March 2021. Some experts say the airline has deeper problems. "Overambitious growth has been accompanied by weak fundamentals, with financially strong competitors constantly putting pressure on the indebted Wizz Air with typically very competitive ticket prices," Gabor Bukta, lead analyst at Concorde Securities, Hungary's largest non-bank broker, wrote in a recent report. The airline, which has 231 aircraft and more than 8,000 employees, operates flights in 55 countries and carries 63.4 million passengers a year on 833 routes, according to its latest financial report. Follow us on: Facebook Instagram Whatsapp Short link:
Middle East
an hour ago
- Middle East
OPEN// 20 persons referred to economic court over defrauding citizens via FBC platform
CAIRO, July 14 (MENA) – The Public Prosecution on Monday ordered the referral of 20 persons to the Economic Criminal Court over charges of seizing citizens' funds through the FBC online platform. In a statement, the prosecution said that the Economic and Money Laundering Prosecution had investigated complaints filed by 537 citizens who reported falling victim to electronic fraud schemes that swindled them out of more than EGP 15.9 million. The platform allegedly promoted bogus investment opportunities, claiming huge profits in return for performing online tasks. Investigations revealed the identities and roles of the suspects. The platform was found to be a front for a criminal network led by foreign elements who planned and managed the fraud operations, while Egyptian nationals executed them. The probe also showed that the platform created groups on WhatsApp and Telegram to lure victims and promote its illicit activities, falsely claiming to hold official licenses. The referral order relied on testimonies from more than 350 witnesses as well as technical and digital evidence, including chats and videos documenting the suspects' activities. It was also established that they operated multiple e-wallets with fake data and used a commercial registration for a company under the platform's name. The Financial Regulatory Authority confirmed that it had never issued any licenses for such investment or fund management activities. The prosecution said it had swiftly taken measures to safeguard victims' rights, including freezing the suspects' assets, placing them on travel ban lists, suspending use of seized SIM cards, and blocking the linked e-wallets. The Public Prosecution urged citizens to exercise utmost caution toward social media campaigns advertising fake quick-wealth opportunities, stressing that such schemes are mere fraud tools run by organized criminal networks. It underlined the importance of avoiding dealings with any unlicensed entities in the fields of investment and fund management to protect their savings from financial scams. (MENA) M S H/R E E
Watani
2 hours ago
- Watani
Turkish Hayat Egypt opens USD44m factory in SCZone
On 13 July, the foundation stone was laid for new production lines for the Turkish 'Hayat Egypt' factory for hygienic products in the Suez Canal Economic Zone (SCZONE) in Sokhna. Waleid Gamal El-Dien. Chairman of the General Authority of SCZONE attended the event. Also attending were Governor of Suez, Major General Tarek El-Shazly; Turkish Ambassador to Cairo, Salih Mutlu Şen; Şenol Keserlioglu, General Manager of Hayat Egypt; in addition to a number of SCZONE executive leaders, and representatives of the industrial developer Orascom Industrial Parks. At an investment of USD44 million, the factory is being built on an area of 30,000 sq.m in the Orascom Industrial Parks developer's zone inside the Sokhna Integrated Zone. The new expansions, which will create more than 400 direct job opportunities, will target the production of non-woven hygienic products. Some 75 per cent of the total production is allocated for export. Operating is expected to start in March 2026. 'SCZone has recently succeeded in attracting diverse investments in sectors targeted for localisation in Egypt,' Mr Gamal El-Dien said. 'The expansions of 'Hayat Egypt' add a new chapter to Turkish investments within the SCZone, which now number 18 companies in various sectors, most notably textiles and ready-made garments, and hygiene products. Their total investments have reached some USD793.8 million, including 10 companies in the Sokhna integrated zone with investments of USD508 million, and eight companies in West Qantara with investment costs of USD285.8 million. 'The Turkish expansions reflect the great confidence of investors in the investment climate within SCZONE. It comes as a result of vigorous promotional efforts SCZONE is exerting, and the massive investments it has injected to set up infrastructure and facilities according to the latest international standards. This in addition to the efforts to digitise the one-stop-shop services to improve investor experience and overcome the challenges they face.' Watani International 14 July 2025 Comments comments Tags: Mariam AdlyTurkish Hayat Egypt sanitary
