Arab Finance: Egypt’s Suez Canal Economic Zone (SCZone) has signed a contract with Atesan Tekstil to establish a new textile project in the Qantara West Industrial Zone, with investments of $6.5 million, as per a statement.
The project will be developed on an area of 20,000 square meters and is expected to create around 200 direct job opportunities.
SCZONE's Chairman Waleid Gamal El-Dien said the zone continues to support investors and industrial developers, particularly in the Qantara West Industrial Zone, which has developed into a hub for textile and ready-made garment industries, alongside food industries, logistics, and related services.
He also noted that new projects in these sectors help reduce imports, increase exports, and meet demand in both local and regional markets.
Amid rising investor interest in the zone, the authority is closely monitoring project implementation timelines and is taking action against companies that fail to meet their contractual obligations, he added.
According to the SCZONE, the number of active projects in the Qantara West Industrial Zone has reached 52, spanning industrial, service, and logistics activities. These projects account for total investments of approximately $1.53 billion across an area exceeding 3.54 million square meters, generating around 72,000 direct job opportunities.
