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SCZone Chief Lays Foundation for Two New Chinese Textile Projects Worth $55 Million

Taarek Refaat Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone (SCZone) witnessed the groundbreaking ceremony for two new Chinese textile projects in the industrial developer 'TEDA–Egypt' zone in Ain Sokhna, marking a fresh wave of foreign investment into Egypt's manufacturing sector. The projects, with combined investments exceeding $55 million, are set to create hundreds of direct and indirect jobs, while strengthening Egypt's presence in global textile supply chains. The first project, led by Bridge-Tex, involves the construction of a fully integrated textile complex on a 40,000-square-meter plot. With an investment of over $25 million, the facility will house 18 spinning lines, more than 100 fabric production lines, and six printing and dyeing lines. Once fully operational, the plant is expected to produce 25 million meters of high-quality fabrics and 105,000 tons of fibers annually, generating around 500 direct jobs and 1,000 indirect jobs. The second project, developed by F-TEX International, will be built on 55,000 square meters with 60 production lines for drawn textured polyester yarn (DTY). The $30 million facility is projected to reach full operational capacity by late 2027, with an annual production target of 130,000 tons and 400 direct jobs, contributing an estimated $150 million in annual export revenues. Gamal El-Din emphasized that these projects reflect growing international investor confidence in the SCZONE and the success of the partnership with TEDA–Egypt. He highlighted ongoing talks with Chinese partners to allocate an additional 10 km² for industrial development, following the near-completion of earlier expansion phases. 'These projects will not only add significant value to the local economy and create jobs, but also enhance Egypt's industrial integration and global supply chain competitiveness,' Gamal El-Din said, noting that SCZONE attracted $8.6 billion in investments across 297 projects over the past three years, including $4.4 billion in the last fiscal year alone. Representatives from both companies highlighted the export-oriented nature of the projects, with 80% of output destined for U.S. and European markets. Bridge-Tex expects annual sales of $120 million, with $100 million in foreign currency inflows, while F-TEX executives framed the project as a symbol of Sino-Egyptian textile cooperation, combining Chinese technology with Egyptian labor to achieve sustainable growth. The two projects are expected to boost Egypt's textile exports, potentially helping the country surpass $10 billion in annual textile export revenues, according to company statements. 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 Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs 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 Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results