Cairo – Mubasher: The Suez Canal Economic Zone (SCZONE) has entered into a contract with Türkiye’s Eroğlu Holding to construct a denim clothes factory in the West Qantara industrial zone.
The new facility will cover an area of 62,000 square meters, with an investment cost of $40 million, according to an official statement.
The project is anticipated to generate 2,750 employment opportunities and manufacture 7.20 million pieces, 70% of which are earmarked for export.
Nurettin Eroğlu, Chairman of Eroğlu Holding, affirmed that the new factory will utilise locally-produced raw materials from the company’s facility in Damietta.
Construction of the new factory is slated to commence in June 2024, with operations expected to commence in early 2025, Eroğlu revealed.
Between January and March of this year, SCZONE signed contracts for 37 projects, totalling $894 million in investment costs.
