Arab Finance: The General Authority for Suez Canal Economic Zone (SCZONE) has signed a usufruct agreement with the Thai company Hi-Tech Apparel to establish a sportswear manufacturing factory in West Qantara Industrial Zone, Isamilia, with investments of up to $20 million, a statement revealed.

Under the agreement, the Thai firm will make use of a 64,000-square-meter land plot owned by SZCONE to build the factory.

This factory marks the first Thai Industrial project in Egypt, as well as the company’s first project in the Middle East and Africa (MEA).

Hi-Tech Apparel is accelerating the project’s works pace to lay its foundation in the second half (H2) of 2024, with the aim of commencing operation in H2 2025.

Moreover, this project is set to offer 1,500 job opportunities.

It is worth noting that Hi-Tech Apparel targets establishing an international ready-made garment and textiles industrial park in the West Qantara Industrial Zone.

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