Chinese company to invest $30 mn for textile project in Egypt

The contract was signed between Enxiao You, chairman of the board of directors of Kelida and Waleid Gamal El-Dien, chairman of the general authority of SCZONE.

More than 90 per cent of Kelida’s production will be directed towards export markets in Europe and the United States. The other agreement was signed with the Turkish company Saray Biskuvi ve Gida San AS to establish a food manufacturing project, SCZONE said in a press release.

The chairman of SCZONE said that these agreements will bring the total number of contracts for the first phase of the West Qantara Industrial Zone to eight. Collectively, the projects represent investments of $309 million, covering 751,000 square metres and generating approximately 14,200 job opportunities.

“By signing these two contracts, SCZONE has completed eight contracts from the first phase of projects in the Qantara West Industrial Zone. Total investments now exceed $309 million, covering 751,000 square metres and generating approximately 14,200 job opportunities. These initiatives reinforce SCZONE’s position as a world-class industrial hub, contributing to advanced industries and bolstering the national economy,” said Gamal El-Dien.

ALCHEMPro News Desk (SG)