Egypt Daily News – Waleed Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, signed today at the Authority’s headquarters in the New Administrative Capital the contract for the first phase of the “Eroglu Knitting” project, with a total investment of $120 million. The project aims to establish a fully integrated factory, “from yarn to garment,” covering all stages of ready-made clothing production, from spinning to the final product.
The factory will be built on an area of 100,000 square meters in the promising Qantara West Industrial Zone and is expected to create 5,000 job opportunities while producing 30 million pieces annually. The contract was signed by Sharaf El-Din Koc, the authorized signatory of “Eroglu Knitting.”
Mr. Gamal El-Din expressed his gratitude to all partners, including investors and companies, for contributing to the development of the Qantara West Industrial Zone. He highlighted that the first phase of the zone has reached 12 projects spanning 1.112 million square meters, with an investment cost of approximately $511 million, creating more than 21,500 job opportunities in just 20 months.
He attributed this achievement to the Authority’s intensive promotional efforts, which have turned the area into a hub for the textile, garment, and food industries. He also emphasized that the strategic location of the zone, near the seaports of Port Said and Sokhna, makes it an ideal launch point for accessing regional and global markets.
Waleed Gamal El-Din also highlighted the efforts of the Suez Canal Economic Zone in developing infrastructure and providing necessary facilities, such as land allocation, logistics services, and licensing, to ensure a flexible and efficient investment experience. These efforts enhance the region’s competitiveness both regionally and globally as a leading industrial and logistical hub by offering a favorable investment environment through a package of direct and indirect financial incentives.
He also expressed his happiness with the company’s second project within the Qantara West Industrial Zone, emphasizing the mutual trust between the company and the Authority, which promises a bright future for further collaboration in various ready-made garment manufacturing projects.
For his part, Sharaf El-Din Kosh expressed his gratitude to the Suez Canal Economic Zone and affirmed the group’s aspiration to expand its investments and cooperation with the Authority in the coming phase. He emphasized the group’s keen interest in increasing its investments in Egypt, given the support provided to investors.
He also praised the Suez Canal Economic Zone’s efforts in effectively overcoming challenges during the construction phase, ensuring the acceleration of work and the commencement of operations on schedule.
It is worth mentioning that this is the second project of the Turkish conglomerate Eroglu Global Holding, founded by Nurettin Eroglu, within the Qantara West Industrial Zone. The company is currently establishing a factory with an investment exceeding $40 million on a total area of 64,000 square meters for ready-made garment manufacturing, providing 2,000 job opportunities.
Trial operations are planned to begin in April 2025. Additionally, a second phase of the project signed today is under study, bringing the total estimated investment for both phases to $180 million.
