SCZone Attracts 15 New Projects worth $490 Million in Qantara West
Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, announced that the Authority's promotional efforts have succeeded in attracting 15 projects so far to the Qantara West area, with investments amounting to $490 million.
The chairman added, during his participation in laying the foundation stone for the Chinese "DI Seta" project for accessories and ready-made clothes in Qantara West, that these projects are built on a total area of approximately 1.031 million square meters, and these projects together contribute to providing more than 20,000 direct job opportunities.
He said: "The Suez Canal Economic Zone is moving steadily towards attracting investment in the targeted industrial sectors," stressing its keenness to diversify these investments to include all the industrial zones affiliated with the Authority.
Gamal El-Din pointed out that "the SCZone has 4 industrial zones in Sokhna, East Port Said, Qantara West, and East Ismailia, each of which specializes in a number of industrial sectors targeted for localization in each region. These industries and activities differ according to the geographical location and the availability of specific raw materials that serve this industry."
He explained that "the Chinese DI Seta project, with investments amounting to $40 million, is located on a total area of 83 thousand sqm, and provides 1,200 direct job opportunities. The project is scheduled to start operating during September of this year."
He stressed that the new project represents a new chapter in the successful partnership between the Authority and Chinese investments in this promising region, and reflects the success of the Authority's efforts made throughout the past 30 months, whether in promotional tours, which aim to attract various investments within the Authority.
He added that the Suez Canal Economic Zone aims to transform the Qantara West Industrial Zone into a center for textile and clothing industries, in addition to other targeted sectors; in order to meet the needs of the local market and provide products of global quality, as well as to enhance Egyptian exports to global markets within the framework of the Egyptian state's plan.
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