Four contracts worth $65 mn signed with Chinese textile firms in Egypt

SCZone comprises six seaports and four industrial zones and offers opportunities in manufacturing and logistics.

Elsewedy Industrial Development stems from Elsewedy Electric, a global leader with an 80-year legacy in the trade and manufacturing industries and a market capitalisation in excess of $2.5 billion.

The agreements, formalised at the SCZone headquarters in Egypt’s New Administrative Capital, involve investments spanning 238,000 square metres and are expected to create over 3,000 direct jobs.

SCZone chairman Waleed Gamal El-Din attributed the zone’s appeal to its integrated infrastructure, strategic location and attractive investment incentives.

The zone is working to develop a comprehensive industrial ecosystem covering all textile production stages, from spinning and weaving to dyeing, finishing, and final manufacturing, Gamal El-Din was cited as saying by the state information service.

He added that attracting leading global textile firms is a step toward localising advanced technology, transferring expertise and creating quality jobs for Egyptian youth, aligning with the SCZone’s vision to establish a specialized industrial and logistics platform supporting national economic growth and sustainable development.

ALCHEMPro News Desk (DS)