Egypt has kicked off a $70 million textile project in the West Qantara industrial zone based in El Qantara, financed by the Chinese company Zhejiang Hengsheng

In Egypt, Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZone), kicked off a textile project in the West Qantara industrial zone based in El Qantara on 14 July. The announcement was made in a press release published on the SCZone website.

The project, costing a total of $70 million, is being financed by the Chinese company Zhejiang Hengsheng. It includes the construction of an integrated factory to house dyeing, processing and printing units for fabrics and other textile products, covering an area of 20 hectares. 

According to projections made by Chen Song Fu, Chairman of the Chinese company, once operational, the plant should be able to generate revenues of $300 million a year. ‘We have received broad support from all official bodies in Egypt, given the strategic relationship between our two countries. We plan to use mainly skilled Egyptian labour for the project,’ said the official.

‘Hengsheng’s textile project is the first in the West Qantara Industrial Zone, which the SCZone aims to transform into a veritable hub for the clothing and textile industry in Egypt. 80% of the output of the companies based there is destined for export to international markets,’ explains Whaleid El-Dien.

Egypt’s government aims to increase the value of its textile and clothing exports to $10 billion a year and the number of jobs generated by the sector to 1 million by 2025.