- July 30, 2025
- Posted by: Ahmed Abed
- Category: EN
Mr. Waleid Gamal El-Dien, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), witnessed today at SCZONE’s headquarters in the New Administrative Capital the signing ceremony of a new investment contract for a textile manufacturing project by CWA Company, a leading Egyptian firm specializing in spinning, weaving, finishing, embroidery, and textile processing.
The project will be established within the scope of the industrial developer, Main Development Company (MDC), in the Sokhna Industrial Zone, spanning an area of 15,000 square meters with a total investment of EGP 970 million, equivalent to $19.9 million, fully self-financed by the company (in several stages). Production is expected to commence in the third quarter of 2026. The project is set to provide approximately 200 direct job opportunities in its first phase, with plans to expand the workforce to 500 over the next five years. The contract was signed by Admiral Waleid Youssef, Managing Director of MDC, and Mr. Ashraf Abou El-Einen, President of CWA Textile Company, in the presence of several SCZONE’s executives.
“The project represents a significant step toward deepening local manufacturing within SCZONE, as SCZONE continues to attract sustainable industrial investments that enhance the added value of Egyptian products and increase their competitiveness in regional and global markets. The integrated infrastructure, strategic location, and seamless connection between industrial zones and ports within SCZONE create an attractive environment for serious investors.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE, declared.
“The textile sector is among the promising industries prioritized by SCZONE in its strategic plans, given its key role in substituting imported goods, supporting supply chains for industries such as ready-made garments and home textiles, and its strong potential for export growth, especially with the availability of skilled labor and comprehensive logistics services within SCZONE.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE, added.
“The project is scheduled to be implemented over 12 to 48 months. It aligns with the company’s strategy to expand industrial operations and deliver high-quality Egyptian textile products to both domestic and international markets. The company aims to generate export revenues of no less than $10 million in the first year of operations, gradually increasing to $30 million within five years, while fully committing to global quality standards and continuous development.” Mr. Ashraf Abou El-Einen, President of CWA Textile Company, said.
It is worth noting that CWA’s project is part of a series of industrial investments in the Sokhna Industrial Zone, in line with SCZONE’s plans to boost local manufacturing and create an enabling environment for industrial growth. The project will produce a wide range of textiles, floor coverings, and carpet protectors of various sizes, in addition to supporting industries such as printing, finishing, gluing, engraving, cutting, and sewing, all tailored to meet local demand and expand into export markets.
