- March 16, 2025
- Posted by: Ahmed Abed
- Category: EN
Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), and Mr. Tang Xiao, Chairman of the Chinese company “Jiangsu Guotai”, signed a usufruct contract to establish a ready-made garment factory for the latter, located on an area of 21 thousand square meters in the Qantara West Industrial Zone which affiliates SCZONE. The total investment of the project is $ 10 million, equivalent to 500 million Egyptian Pounds, and provides 2,000 direct jobs. It is planned that the factory will export its entire production.
“Work is underway within the SCZONE to attract investments from around the world to all the affiliated industrial zones and ports in the sectors targeted for localization. This is evident in the pace of new projects in the Qantara West Industrial Zone, which is qualified to be the destination for global investment in the textile, clothing and agricultural processing sectors. The number of actual usufruct contracts signed has reached 15 projects so far in the Qantara West zone. With investments of $ 490 million, on an area of more than one million and 31 thousand square meters, a volume of employment exceeding 20 thousand workers, and an average total percentage of export abroad of production of 80% for the markets of Europe and the Americas. This is done through West Port Said Port, one of SCZONE’s important ports, which is a window to the Mediterranean Sea and European markets. The port will witness an increase in trading traffic, especially after the opening of the Qantara West projects. SCZONE celebrated the laying of the foundation stone for 5 projects among the signed usufruct contracts, and the rest of the projects are being completed successively. We announce the imminent opening of the first two projects in Qantara West during the second half of 2025. SCZONE is keen to localize the industry by building integrated industrial clusters, qualifying and training workers, and maximizing the use of all economic tools at SCZONE, including sea ports, industrial and logistical zones, attractive investment incentives, and free and international trade agreements that allow wide access to various global markets, in addition to SCZONE’s strategic location, which enhances its being a global investment destination.” SCZONE Chairman declared
Jiangsu Guotai is part of China’s Jiangsu Guotai International Group Co., Ltd. (GTIG), founded in 1988, and ranks 329th on the Fortune China 500 list in 2023. The company provides comprehensive high-level services in the field of textiles, garments, yarn, yarn, fabrics, home textiles and accessories. It has established branches in several Asian, European and United States countries, employing more than 4,000 employees and in 2023 the company’s revenue reached $ 9.2 billion.
