Egypt’s Suez Canal Economic Zone (SCZone) has secured four new contracts with leading Chinese textile firms, totalling $65 million in investment. The agreements, signed on Monday, October 20, between El-Sewedy Industrial Development Company and the investors, will see the establishment of textile factories covering 238,000 square metres within the Sukhna 360 Industrial City. These projects are expected to generate over 3,000 direct job opportunities, further strengthening Egypt’s industrial and export capacity.
The signing ceremony, held at the SCZone headquarters in the New Administrative Capital, was attended by Chairman Walid Gamal El-Din, who lauded the continued confidence of international investors in Egypt’s economic environment. He emphasised that the textile sector’s development is vital to localising manufacturing and increasing the added value of Egyptian products. Gamal El-Din also underscored the zone’s commitment to creating an integrated production ecosystem spanning spinning, weaving, and final manufacturing stages.
With six seaports and four industrial zones, the SCZone continues to expand its role as a regional logistics and manufacturing hub. Since July 2022, it has attracted 334 projects worth $10.4 billion, including ventures in textiles, solar panels, metals, and tyres. The zone’s robust performance has also translated into record revenues, reaching EGP 11.6 billion in FY 2024/25—an increase of 38 percent year-on-year—alongside a 51 percent surge in net profits to EGP 8.6 billion, consolidating its position as a pillar of Egypt’s sustainable economic growth.