- June 18, 2025
- Posted by: Ahmed Abed
- Category: EN
Mr. Waleid Gamal El-Dien, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), signed today a contract for a new industrial project with the Turkish company “ULUSOY Tekstil San. Tic. A.Ş,” specialized in spinning and yarn production. The project will be established on a 35,000-square-meter land plot in the Qantara West Industrial Zone, with a total investment of USD 18 million (approximately equivalent to EGP 902 million). The entire investment is self-financed and is expected to create around 855 direct job opportunities.
The factory will produce a wide range of yarn types, including fiber yarns, carpet yarns, hand-knitting yarns, tricot yarns, and household crochet yarns. It will also manufacture and weave various garments, with 80% of the production allocated for export and 20% for the local market. The contract was signed by Mr. Mohamed Ulusoy, the company’s legal representative, in the presence of SCZONE executives and representatives from ULUSOY.
“Qantara West Industrial Zone continues to make steady progress toward becoming a regional hub for the textile, spinning, and ready-made garment industries. This is supported by a well-developed supply chain ecosystem, qualified infrastructure, and a strategic location at the heart of SCZONE’s port network, integrated with key logistics and service corridors. The new project is a continuation of SCZONE’s success in attracting quality investments from trusted international companies that believe in our stable business environment and the competitive incentives offered by SCZONE. This reflects Qantara West’s growing appeal as a preferred destination for labor-intensive industries targeting exports and contributing to local value creation.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE, declared.
“This project marks the 24th contracted project in Qantara West Industrial Zone, raising the total investments in the zone to USD 661.5 million and generating 34,455 direct job opportunities. This milestone affirms SCZONE’s strategic approach to supporting export-oriented industries, deepening local manufacturing, and localizing supply chains across the textile sector, from raw material production to yarn and fabric manufacturing, and finally to ready-made garments, thus enhancing the industrial sector’s contribution to Egypt’s GDP.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE added.
It is worth noting that ULUSOY was established in Turkey in 1986 and operates two fully integrated industrial facilities in Adana Hacı Sabancı Industrial Zone (180,000 m²) and Osmaniye Organized Industrial Zone (90,000 m²). The company is considered one of the largest producers of luxury yarn in Europe, with a monthly output exceeding 1,000 tons. ULUSOY exports its products to a wide range of global markets.
