A contract was signed on 7 April between the General Authority for the Suez Canal Economic Zone (SCZone) and the Turkish “Eroğlu DNM”, for the establishment of a factory to produce denim jeans in Qantara West Industrial Zone.
The contract was signed at SCZone headquarters in Egypt’s New Administrative Capital some 40km northeast Cairo, by Chairman of SCZone Waleid Gamal Eldien; and Nurten Eroğlu, head of the Eroğlu Holding Group. A number of senior SCZone officials and Eroglu Group representatives attended.
The USD40 million project sits on an area of some 62,000 sq.m. It provides 2,750 job opportunities, and aims at producing 7.2 million pieces of jeans a year, with plans to export 70 per cent of the production, and allocate 30 per cent to the local market.
Mr Gamal Eldien said that the project comes as a result of the efforts conducted by SCZone to promote its industrial zones as places where businesses and factories can thrive. A number of labour intensive projects, he said, have been attracted to West Qantara Industrial Zone, and would contribute directly to achieving development. The Turkish investment in the garment factory project the contract of which was signed that day, he said, represents a success story of Turkish investment in SCZone in the field of textile and ready-made clothing industries.
For his part, Nurtin Eroğlu expressed his happiness with partnering with the SCZone, stressing that the Eroğlu DNM Factory project is distinguished by its reliance on raw materials of fabrics that are produced locally at the company’s existing factory in Damietta. He said that construction of the factory in Qantara should begin next June, and operation is expected to begin in early 2025. Mr Eroğlu said that, with his firm’s more than 40 years of experience in the field of textile and garment production, the SCZone factory will be an export base for global markets.
Watani International
10 April 2024