Latest news with #QantaraWest
Zawya
21-05-2025
- Business
- Zawya
China's Hightex to establish $17mln textile project in Qantara West
Arab Finance: The Suez Canal Economic Zone (SCZONE) signed a contract with Hangzhou Hightex Co. Ltd, a China-based textile products manufacturer, to develop a project within the Qantara West Industrial Zone, according to a statement. The project will be built on 65,000 square meters, with an investment cost of $17 million (EGP 851.7 million). The fully self-financed project will provide around 300 direct job opportunities. It aims to produce more than 20 million meters of fabric annually, allocating the entire production for export. Following this agreement, the total number of contracted projects in the Qantara West Industrial Zone reached 20 projects, with total investments amounting to $596.5 million. Waleid Gamal El-Dein, Chairman of SCZONE, pointed out that these projects offer more than 27,600 direct jobs. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
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)
Zawya
19-05-2025
- Business
- Zawya
Egypt: SCZONE pens $15mln deal with China's GS Global Sourcing
Arab Finance: Waleid Gamal El-Dein, the Chairman of Suez Canal Economic Zone (SCZONE), inked a contract with GS Global Sourcing Co. Ltd, a Chinese company specializing in ready-made garments, according to a statement. The project will be fully self-financed, with investments totaling $15 million (EGP 751.5 million). Located in the Qantara West Industrial Zone, the facility will cover an area of 27,000 square meters, and it is expected to provide around 2,000 direct job opportunities. The project aims to produce more than 12 million pieces of ready-made garments annually, which will be fully allocated for export. This agreement follows three other contracts recently signed at a total value of $80.5 million for Chinese projects in the Qantara West Industrial Zone. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
19-05-2025
- Business
- Zawya
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. (
