- December 23, 2024
- Posted by: Ahmed Abed
- Category: 2024, EN
Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), signed, at SCZONE’s headquarters in the Administrative Capital, the contract for the Turkish company “Denim Rise” for the manufacture of ready-made garments, with a total investment cost of $8.8 million, on an area of 26 thousand square meters, providing 1000 direct job opportunities, and an export rate of 70% of the total project products. The contract was signed by Mr. Huseyin Güzel, a member of the company’s board of directors.
” Qantara West Industrial Zone is one of the best industrial zones for labor-intensive projects due to its proximity to the Canal and Delta governorates, in addition to its strategic location, which is located between SCZONE’s ports on the Red Sea and the Mediterranean Sea, thus ensuring its investors easy access to various regional and international markets. The “Denim Rise” project is the fourth project with Turkish investments within the Qantara West Industrial Zone, which indicates the depth of economic relations between the two countries. It promises a future that carries more cooperation for development.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE declared.
” Qantara West Industrial Zone is important because it reflects the vision of SCZONE related to developing the infrastructure to create a favorable conducive climate for investment and attracting more investments in the targeted sectors. The cooperation with Turkish investments in the field of ready-made garments and textiles maximizes the benefit from the available resources to serve this field. It helps achieve industrial integration and increase the added value of products, as Qantara West will also include factories for manufacturing ready-made garment accessories, printing and dyeing Textiles, and manufacturing of bags and luggage.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE added.
” We appreciate our cooperation with SCZONE through the ready-made garment manufacturing project in the Qantara West Industrial Zone, as a start for further expansions for the company in foreign markets. The foundation stone for the project will be laid soon, so that it can be opened during the second half of 2025, coinciding with the start of operation in similar projects in the Qantara West Industrial Zone.” Mr. Huseyin Güzel said.
It is worth noting that after signing the contract with Denim Rise Company, SCZONE has completed signing contracts for 9 projects from the first phase in the Qantara West Industrial Zone, with total investments amounting to $317.8 million, on a total area of 777 thousand square meters, providing about 15,200 job opportunities.he most important technology and information companies in the United States and around the world.
