Latest news with #WaleidGamalElDein
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
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. (
Zawya
08-05-2025
- Business
- Zawya
Egypt: SCZone inks deal for Fotouh AlKuwait's $1.7mln project in Sokhna Industrial Zone
Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZone) and the Main Development Company (MCD) signed an agreement for Fotouh AlKuwait Co's project to produce packaging materials, according to a statement. With investments of $1.7 million (EGP 86 million), the project will span an area of 10,000 square meters in the Sokhna Industrial Zone and will provide 30 job opportunities in its first phase. SCZone's Chairman Waleid Gamal El-Dein highlighted that this project represents a new step toward achieving the authority's goals of attracting valuable investments and implementing industrial projects that contribute to deepening local manufacturing and localizing supply chains in key sectors. He added that the location near Sokhna Port serves the project's objectives of exporting 90% of production. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
