SCZONE Chairman Walid Gamal El-Din and Veli Fatih Özersoy, chairman of Turkish company Nil Örme, signed the contract on Tuesday for the $35 million (EGP 1.75 billion) project.
Located in the Qantara West Industrial Zone, the factory
will span 33,000 square meters and is expected to create 2,000 direct jobs.
According to the agreement, 90 percent of its production will be exported.
Gamal El-Din highlighted Qantara West as a key hub for
textiles, noting that 34 projects have now been established there, attracting a
total investment of over $859 million and creating more than 48,000 jobs.
The SCZONE chairman pointed to the availability of skilled
labor, competitive energy prices, and high-quality infrastructure as key
incentives for foreign investors.
He added that the authority plans to hold its first promotional tour in Turkey at the end of September to attract further investment.