With $4m in investments, SCZONE signs contract for “Mariniro” ready-made garments project, the 1st Greek industrial investment in Qantara West

Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), signed a contract this morning at the SCZONE’s HQ in the New Administrative Capital to establish the “Mariniro” ready-made garments project, owned by the Greek company “TZANIDAKIS MIAXAH MARINOS Co (Murphy)”. The project will be established on an area of 7,000 square meters in SCZONE’s Qantara West Industrial Zone, with an investment cost of $4 million (equivalent to EGP 200 million). The project is expected to provide 1,000 direct job opportunities and aims to export 70% of its production. The contract was signed by Mr. Marinos Tzanidakis, Chairman of Murphy, in the presence of several leaders from both parties.

On the sidelines of the signing ceremony, Mr. Waleid Gamal El-Dien stated, “We are proud of SCZONE’s success in attracting its first Greek industrial investment. This project represents a foundation for partnership and cooperation with Greece that can be leveraged and built upon, especially in light of the close relations between Egypt and Greece, as well as our geographical partnership in the Mediterranean Basin. The diversity of investments from various countries in the Qantara West zone demonstrates its success in transforming into a regional and even global hub for the textile and ready-made garments industry. I appreciate the impact of this success in providing job opportunities for Egyptians, supporting efforts to localize and deepen local industry, and boosting exports, in line with Egypt’s vision.”

“With the addition of the project signed today, the total number of actual projects in Qantara West reaches 36 in various sectors, most notably textiles, ready-made garments, food industries, and logistics activities. These projects collectively cover a total area of 2,332,400 square meters, with total investment costs amounting to $993.3 million. They also provide more than 52,200 direct job opportunities. We must continue our efforts to attract more investments to the Qantara West Industrial Zone, given its important role in supporting the Egyptian economy.” SCZONE Chairman further explained