(MENAFN- Daily News Egypt) Eroğlu Garment, a subsidiary of the Turkish Eroglu Global Holding Group, has announced the establishment of a new ready-made garment factory in the Qantara West industrial zone of the Suez Canal Economic Zone (SCZone), marking a significant investment in Egypt's manufacturing sector.
The project, with a total investment of $40m, will be built on a 64,000-square-meter plot of land and is expected to become operational in January 2024. The factory is expected to create approximately 2,750 jobs and has future expansion plans for a second phase on a 400,000-square-meter plot.
The groundbreaking ceremony was attended by Waleid Gamal Eldien, Chairperson of the SCZone; Akram Galal, Governor of Ismailia; the Turkish Ambassador to Cairo, Salih Mutlu Şen; and Eroğlu Global Holding Chairperson, Nurettin Eroğlu.
“This project is another milestone in the fruitful cooperation between the SCZone and the Administrative Control Authority,” said Gamal Eldien, emphasizing the goal of attracting industrial projects from successful companies operating in the Egyptian market with an export focus. The SCZone has already attracted 151 such companies.
Gamal Eldien highlighted the significance of Eroğlu Global Holding's investment as it marks the first Turkish project in Qantara West. He stressed the SCZone's commitment to developing and preparing the infrastructure in Qantara West, positioning it as a promising industrial investment destination in Egypt.
He added that the project strengthens SCZone's regional and global competitiveness as a leading industrial and logistics hub and a preferred destination for investment, thanks to its single-window service platform for investor-friendly digitalized services.
“Qantara West offers unique advantages, including the availability of skilled technical labour and raw materials, making it an ideal location for the textile and apparel industry,” said Gamal Eldien.
The zone's integration with SCZone ports and access to free trade and international agreements ensures seamless access to a market of 2bn consumers worldwide.
Eroğlu expressed his company's pride in partnering with SCZone, particularly in the promising Qantara West region. The project marks Eroğlu's third investment in Egypt, following previous projects in Ismailia and Damietta.
“This project is a continuation of the company's success story in Egypt, which began 41 years ago,” said Eroğlu, emphasizing the company's commitment to the Egyptian market.
The project aims to achieve $100m in exports, representing 70% of the factory's production output, with the remaining 30% allocated to meet local market demands. The factory, equipped with advanced technologies including a wastewater treatment system and environmentally friendly energy facilities, aims to produce 7 million pieces of jeans annually when operating at full capacity.
“The project strengthens economic ties between Egypt and Türkiye,” said Eroğlu.
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