The $4 million project will be built on a 7,000-square-meter plot in the Qantara West industrial zone and is expected to create 1,000 direct jobs. The company plans to export 70% of its production.
Marinos Tzanidakis, the company's chairman, signed the
contract in the presence of officials from both sides.
Gamal El-Din said the investment represents a
"cornerstone for future partnership" with Greece, citing the close
geographic ties between the two nations in the Mediterranean. He also noted
that the diversity of investments in the Qantara West area proves its success
in becoming a regional and global hub for textiles and ready-made garments,
which creates jobs, supports local industry, and boosts exports in line with
Egypt's vision.
He highlighted that the new project brings the total number
of operational projects in Qantara West to 36, covering various sectors
including textiles, food, and logistics. These projects cover a total area of 2,332,400
square meters, with a combined investment of $993.3 million, and provide over
52,200 direct jobs.
Gamal El-Din stressed the importance of continuing efforts to attract more investments to the Qantara West industrial zone due to its significant role in supporting the Egyptian economy.