Turkish firm to invest $5.6 mn in setting up garment unit in Egypt

The fully self-financed project is expected to create about 700 direct jobs.

The factory will have an annual capacity of up to a million pieces. Around 95 per cent of its output will be exported, while the remaining will be supplied to the domestic market, according to the SCZone authority.

SCZone chairman Waleid Gamal Eldien said the number of contracted projects in Qantara West has reached 50, covering a total area of about 3.46 million square metres, with cumulative investments estimated at $1.35 billion and more than 70,000 direct jobs, according to domestic media reports.

The statistics include projects developed with the Main Development Company (MDC), SCZone's development arm, which builds ready-to-operate factories and industrial facilities for investors.

ALCHEMPro News Desk (DS)