SCZONE Chief attends signing of Zhejiang Hongda textile project deal

Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE) Walid Gamal al-Din said that the West Qantara Industrial Zone is experiencing rapid growth in attracting foreign direct investment from several countries, particularly in priority sectors such as textiles and ready-made garments, food industries, and logistics activities. His remarks came during a ceremony held on Monday, June 15, 2026, at the Authority’s headquarters in the New Capital, where he witnessed the signing of an agreement for a textile manufacturing and processing project by Turkey’s Zhejiang Hongda in the West Qantara Industrial Zone. The project entails investments of $20 million. The project will be established on an area of 60,000 square meters and is expected to create around 500 direct jobs. It is also expected to export 70 percent of its production. On the sidelines of the signing ceremony, Gamal al-Din noted that the number of operational projects in the West Qantara Industrial Zone has now reached 53 industrial, service, and logistics projects, with total investments amounting to $1.48 billion. These projects are expected to provide approximately 69,000 direct jobs and occupy a total area exceeding 3.42 million square meters. The post SCZONE Chief attends signing of Zhejiang Hongda textile project deal appeared first on Egypt Independent.