SCZONE Secures $38m Deals for Food and Textile Plants in Qantara West
Boosting Egypt’s Industrial Hub
The Suez Canal Economic Zone (SCZONE) has taken a significant step towards solidifying its position as a prime industrial hub. In particular, it signed two major investment deals worth $38 million in the Qantara West Industrial Zone.
New Projects, New Opportunities
On Sunday, Waleid Gamal El-Din, SCZONE Chairperson, signed contracts at the authority’s headquarters. The agreements encompass 137,000 square meters within the economic zone. The projects specifically target food processing and textile manufacturing sectors. These initiatives will create approximately 1,450 direct job opportunities. The signing occurred in the New Administrative Capital, which underscores the region’s economic potential. Qantara West serves as a strategic development location within the zone. These strategic investments will drive economic growth and regional diversification
Saray Food Industry Takes the Lead
The first agreement is with Turkish company Saray Bisküvi ve Gıda San. A.Ş. (Saray Food Industry), marking its first venture in the Qantara West Industrial Zone. The project, covering 45,000 square meters, represents an $8 million investment and is forecast to generate 450 jobs. Ninety percent of the factory’s output will be for export. Kamel Ozdag, a board member of Saray, signed the contract. Saray Food Industries is part of the wider Turkish Saray Holding Group, which has interests in energy, electronics, mechanics, and furniture, in addition to food production.
Kelida Brings Textile Expertise
The second agreement involves the Chinese company Kelida, a manufacturer of textiles and home fabrics with over 30 years of experience. Kelida plans to invest $30 million in a project that will span 92,000 square meters. This initiative is expected to create 1,000 direct jobs. Additionally, more than 90 percent of Kelida’s production will target export markets, primarily in Europe and the United States. Engyao Yu, Chairman of the Board for Kelida, signed the contract to formalize this investment.
SCZONE’s Growth Momentum
Gamal El-Din stated that the two contracts mean the SCZONE has now finalized eight project agreements in the initial phase of the Qantara West Industrial Zone. In total, these combined projects represent a total investment of $309 million, covering 751,000 square meters, and will generate approximately 14,200 jobs.
A World-Class Industrial Hub
“This is a significant developmental achievement,” he said, adding that it establishes “a world-class industrial hub capable of attracting further investments, fostering promising employment prospects, and building investor confidence.” He also said the projects would play a vital role in strengthening the national economy through the development of advanced industries.
Strategic Location, Infrastructure Development
Gamal El-Din highlights the Qantara West Industrial Zone’s prime location, close to seaports, attracting investors and granting access to markets. Next, the SCZONE actively develops the zone’s infrastructure to enable efficient business operations. Consequently, it provides investors with comprehensive support, including land, logistics, and licensing assistance, to ensure a seamless investment process. Furthermore, both projects are set to launch in the final quarter of 2025, solidifying the zone’s position as a premier industrial hub. Meanwhile, these new projects position the zone to drive Egypt’s economic growth, offering a prime destination for investors and creating thousands of jobs.
As Egypt joins the BRICS alliance, the SCZONE’s recent investment deals will trigger a significant impact. Moreover, the Suez Canal Economic Zone is emerging as a prime industrial hub, attracting investments from Brazil, Russia, India, China, and South Africa. Meanwhile, the strategic Qantara West Industrial Zone’s cutting-edge infrastructure and logistical support facilitate seamless trade and commerce among BRICS nations. Consequently, this fosters greater economic cooperation, accelerates regional integration, and creates new opportunities for intra-BRICS trade. Thus, the alliance’s collective economic influence on the global stage is bolstered. Furthermore, with Egypt’s membership, the Zone will connect Africa, the Middle East, and Asia, expanding the alliance’s geographic footprint and unlocking new growth avenues.
Source: Daily News Egypt