Elsewedy Industrial Development signs $65M contracts with 4 major Chinese textile firms
Updated 10/20/2025 11:58:00 AM
Arab Finance: Elsewedy Industrial Development has signed four contracts with major Chinese textile companies to establish new factories in Sokhna 360, with $65 million in investment, as per a statement.
The projects span a combined area of 238,000 square meters and are expected to generate more than 3,000 direct jobs.
The signing was witnessed by Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE) Waleid Gamal El-Dien.
Commenting on the contracts, Gamal El-Dien noted that the zone has become a key global investment destination due to its strategic location, integrated infrastructure, and incentives offered to investors.
He stressed that the textile industry is one of the most promising sectors within the zone, with high potential to deepen local manufacturing, increase added value, and enhance Egypt’s export competitiveness.
The SCZONE, he added, is working to build a fully integrated production system, from spinning and weaving to dyeing, finishing, and final manufacturing, to position Egypt as a hub for regional and global textile supply chains.
For his part, Mohamed Alkammah, CEO of Elsewedy Industrial Development, said that the new projects reflect growing investor confidence in the SCZONE’s business environment and support Egypt’s industrial development plans.
Attracting international companies in this sector supports technology transfer, builds technical expertise, and creates quality job opportunities for young people, Alkammah pointed out.
This aligns with the zone’s vision to become a specialized industrial and logistical platform contributing to the national economy and sustainable development goals.
Related News
