Cornerstone Laid For Chinese Henneway In West Qantara Industrial Zone, Marking $50M Investment

2024-12-08 11:04:51

(MENAFN- Daily News Egypt) Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), attended the cornerstone-laying ceremony for the Henneway project, a Chinese venture specializing in travel luggage manufacturing, in the West Qantara Industrial Zone. Spanning 120,000 sqm, the $50m project will create 3,000 new jobs.

The ceremony was attended by Hailong Wu, Chairman of Henneway, Liu King Zhao, Advisor to the Minister of Commerce at the Chinese Embassy in Cairo, the Deputy Governor of Ismailia, the Member of Parliament for the Qantara area, and various SCZONE officials.

Gamal El-Din emphasized that the West Qantara Zone is a key part of the Suez Canal Economic Zone's broader development plans. The first phase of the zone includes nine projects across various sectors such as textiles, medical devices, sportswear, food industries, and luggage manufacturing. Recently, six projects were contracted, totaling $271 million in investments, covering 614,000 sqm and generating over 12,000 jobs. Contracts for three additional projects are underway.

He highlighted the importance of the Henneway project as part of growing cooperation between the SCZONE and Chinese investors, who have contributed over $3 billion in investments to date. This project, he noted, is a significant step in further establishing Egypt as an industrial and commercial hub in the region while creating valuable employment opportunities.

Hailong Wu shared that he first learned about the SCZONE during a meeting with Gamal El-Din in China in October 2023, which led to his visit to Egypt to explore the area firsthand. The contract for the project was signed in December 2023, and Wu praised the SCZONE's support, investment incentives, and international agreements that facilitated the project's swift launch.

Henneway, one of the world's largest luggage manufacturers, counts major global brands such as Samsonite, Delsey, Swiss Gear, and Travelite among its clients. The project is set to begin construction in January 2025, with operations expected to commence by December 2025.

MENAFN08122024000153011029ID1108969382

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.