Led by Walid Gamal El-Din, Chairperson, The Suez Canal Economic Zone (SCZONE) has signed a land-use agreement with Chen Xiaodong, President, China-based JiangSu GuoTai International Group (GTIG), to establish a RMG factory in the Qantara West Industrial Zone.
To be set up with an investment of $10 million, this factory will spread across 21,000 sq m and is projected to generate 2,000 direct job opportunities. The factory will export its production to international markets, strengthening Egypt's position as a key player in the global textile and apparel industry.
Emphasizing on the SCZONE's ongoing efforts to attract foreign investment across its industrial zones and ports, Gamal El-Din highlighted Qantara West’s rapid development into a global investment hub, particularly for textiles, ready-made garments, and agro-industries.
To date, 15 land-use contracts have been signed in Qantara West, totaling $490 million in investments and covering over 1.031 million sq m, creating more than 20,000 job opportunities. These projects maintain an 80 per cent average export rate, with primary markets in Europe and the Americas. A key SCZONE facility, the West Port Said Port is expected to see increased trade activity, serving as a vital gateway for exports to Mediterranean and European markets.
The SCZONE has already started work on five projects within Qantara West, with the first two scheduled for inauguration in the H2, FY25. Gamal El-Din reaffirmed the authority’s commitment to localizing industries, supporting workforce development, and maximizing the benefits of SCZONE’s economic tools, which include integrated industrial clusters, seaports, logistics zones, investment incentives, and free trade agreements that provide broad market access.
Founded in 1988, GTIG is a leading Chinese conglomerate, specializing in textiles, garments, spinning, yarns, fabrics, home textiles, and accessories, with operations across Asia, Europe, and the United States. Employing over 4,000 people, GTIG reported revenues of $9.2 billion in 2023, solidifying its position as a global industry leader in manufacturing.
This agreement reinforces Egypt’s growing appeal as a preferred investment destination for international textile manufacturers and is set to significantly contribute to job creation, industrial growth, and export expansion within the SCZONE.
