Latest news with #Hightex
Al-Ahram Weekly
20-05-2025
- Business
- Al-Ahram Weekly
SCZone, China's Hightex to build $17 mln fabric plant - Markets & Companies
The Suez Canal Economic Zone (SCZone) has signed a $17m agreement with China's Hightex Industrial to build a decorative fabric plant in the Qantara West Industrial Zone, boosting textile exports and deepening industrial ties with China. SCZone chairman Walid Gamal El-Din and Hightex chairman Wenlong Lu signed the deal. The self-financed facility will span 65,000 square-metres and aim to produce over 20 million metres of fabric annually, all for export. It is expected to create around 300 direct jobs. Gamal El-Din said the plant will be located near existing textile ventures in Qantara West, which it described as a 'success story' that has quickly attracted international investment in the fabric and garment sectors. With this deal, the number of contracted projects in Qantara West rises to 20, with total pledged investments of $596.5 million and more than 27,600 jobs. Gamal El-Din highlighted the zone's strategic location—between the Red Sea and Mediterranean ports and near population centres with available labour—as key to its appeal for labour-intensive industries. Founded in 1990 in Hangzhou, Hightex supplies decorative fabrics and home furnishings globally. It has research and sales hubs in the US and manufacturing operations in China and Vietnam. The agreement is the latest in a series of China-backed textile projects in the zone. On Sunday, SCZone signed a $15 million deal with Chinese firm GS Global Sourcing to establish a ready-made garment factory in Qantara West. In March, Chinese company Jiangsu Guotai signed a $10 million usufruct contract for another garment plant in the same zone. The plant is expected to create 2,000 jobs and export all its production. In late 2024, SCZone also broke ground on a $51million ready-made garment project in partnership with Turkey's Eroğlu Global Holding. Follow us on: Facebook Instagram Whatsapp Short link:
Zawya
20-05-2025
- Business
- Zawya
SCZONE signs $17mln deal with China's Hightex for fabric plant
Egypt's Suez Canal Economic Zone (SCZONE) has signed an agreement with China-based Hightex to set up a fully export-oriented decorative fabrics manufacturing facility in Qantara West Industrial Zone at an investment of 851.7 million Egyptian pounds ($17 million). The facility, which is entirely self-financed, will occupy a 65,000-square-metre plot, and produce over 20 million metres of decorative fabrics annually for export, SCZONE said in a press statement. The project is expected to create around 300 direct job opportunities, the statement said, adding that new project takes the total number of contracted projects in Qantara West to 20, representing cumulative investments of $596.5 million and generating over 27,600 direct jobs. Founded in 1990 in Hangzhou, Hightex is a major supplier of decorative fabrics with a presence in domestic and global markets. The company maintains research and sales centres in the US and operates furniture factories in both Vietnam and China. (Writing by Eman Hamed; Editing by Anoop Menon)
