Latest news with #SuezCanalEconomicZoneAuthority
Daily News Egypt
19-05-2025
- Business
- Daily News Egypt
GS Global Sourcing invests $15m in ready-made garments facility in West El Qantara
Walid Gamal Eldin, Chairperson of the Suez Canal Economic Zone Authority (SCZONE), has signed an agreement with Lou Jun, board member of China's GS Global Sourcing, to establish a new ready-made garments production facility in West El Qantara. The project spans 27,000 square meters and involves an investment of $15m (approximately EGP 751.5m), fully self-financed, with plans to create 2,000 direct jobs. With an annual production capacity exceeding 12 million ready-made garment pieces, the new facility is fully dedicated to export operations. Gamal Eldin highlighted West El Qantara's success in attracting high-quality investments, particularly in spinning, textiles, and ready-made garments. He emphasized its strategic location near the Canal governorates and its logistical advantage between SCZONE's Red Sea and Mediterranean ports, making it ideal for labor-intensive industries. GS Global Sourcing's commitment reflects international confidence in the zone's ability to accommodate global supply chains serving major brands. With this new project, total contracted investments in West El Qantara industrial zone have risen to $579.5 million, generating over 27,300 direct jobs through 19 projects. This development reinforces the Authority's strategy of industrial integration and strengthens the zone's position as a leading export-oriented manufacturing hub. Established in 2017, GS Global Sourcing Limited operates as part of a larger industrial group with over 25 years of experience. In 2022, the company's sales surpassed $600 million, producing approximately 100 million ready-made garments annually for leading global brands. The group maintains manufacturing operations in Egypt, China, Bangladesh, Vietnam, Ethiopia, Kenya, and several other countries.
CairoScene
10-04-2025
- Business
- CairoScene
Thailand to Open EGP 1 Billion Sportswear Factory in Suez Canal Zone
The Thai factory will produce 6 million units annually and create over 2,000 jobs in Egypt's export-focused textile sector. Apr 09, 2025 In a first for Thai investment in Egypt, Hi-Tech Sportswear Textile Manufacturing has announced the construction of a large-scale factory in the Suez Canal Economic Zone. The project carries an investment value of approximately EGP 1 billion (USD 20 million) and marks a new chapter in bilateral economic cooperation between Egypt and Thailand. The factory will be built on a 64,000-square-metre site and is expected to create over 2,000 job opportunities. Production capacity is set to reach 6 million garments annually, with a focus on meeting demand from global markets, particularly in Europe and North America. The foundation stone was officially laid on April 7th, in a ceremony attended by Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone Authority, and Major General Pilot Akram Galal, Governor of Ismailia. The project is aligned with Egypt's broader strategy to boost industrial exports and attract international manufacturing partners to key logistics hubs like the Suez Canal Economic Zone.
