The Chairman for the General Authority of the Suez Canal Economic Zone (SCZONE) Waleid Gamal al-Dein, on Tuesday, laid the foundation stone for the Eroglu Garment project of ready-made clothes in the West Qantara Zone.
The inauguration took place in West Qantara industrial area in cooperation with the Turkish Eroglu Global Holding Group, investments totaling US$40 million.
The project is located on an area of 64,000 square meters, and is expected to provide about 2,750 job opportunities after its operation in January.
It is planned that there will be future expansions of the project in a second phase on an area of 400,000 square meters.
The project comes in light of the fruitful and constructive cooperation between SCZONE and the Administrative Control Authority to localize industrial projects for companies operating in the Egyptian market that have achieved success and target export abroad, totaling 151 companies.
The SCZONE Chairman said that: “The Eroglu Global Holding project adds a new chapter to Turkish investments within SCZONE, in addition to being the first Turkish project in the Qantara West Zone. The project is also among the first projects to be witnessed in the Qantara Zone after the tireless efforts SCZONE made and is still in developing and equipping its infrastructure, which puts it on the map of promising industrial investments in Egypt.”
“This enhances SCZONE’s competitiveness regionally and globally as a leading industrial and logistics hub, and a preferred destination for investment, as it provides a favorable environment for investment in light of the One-stop shop services through which SCZONE digitizes the services provided to investors.”
He added: “Qantara West Zone enjoys various competitive advantages represented in the availability of trained technical labor and raw materials, which qualifies it to become an industrial edifice in the field of textiles and ready-made garments industry, in addition to integration with the SCZONE’s ports and benefiting from free and international trade agreements that achieve full access to about two billion consumers around the world”
“This project reflects the success of the continuous partnership with the private sector and represents a direct translation of the promotional efforts SCZONE made during the past period, which aimed at attracting investments from major international companies in the sectors targeted for localization in SCZONE’s strategy.”
The Chairman of Eroglu Global Holding group Noureddine Eroğlu said: “Eroglu Global Holding Group is proud of the first-of-its-kind cooperation with the Suez Canal Economic Zone, especially in the promising Qantara West Zone, which represents the company’s third investment in Egypt, after its two projects in the cities of Ismailia and Damietta. This project continues a long journey of success that began 41 years ago in Egypt.”
“The project targets exports worth $ 100 million, which represents 70 percent of the plant’s production volume, and the company directs 30 percent of its production to meet the needs of the local market. Equipped with state-of-the-art technology including a recovered water treatment system and eco-friendly energy facilities, the factory aims to produce seven million jeans a year when it reaches full capacity. The project contributes to strengthening economic ties between Egypt and Turkey.” he explained.
