Zhejiang Hongda will invest US$20 million to establish a new textile manufacturing and processing facility in Qantara West Industrial Zone, following the signing of an investment agreement with the **General Authority for the Suez Canal Economic Zone>.
The agreement was signed at SCZone headquarters in New Administrative Capital by Mostafa Shekhoun and Zhejiang Hongda owners Maliang Lin and Abdel Malek Al-Dhabi, in the presence of Walid Gamal El-Din.
New Textile Facility to Support Export Growth
The project will be developed on a 60,000-square-meter site and is expected to create approximately 500 direct jobs.
According to SCZone, around 70% of the factory’s production will be exported to international markets, supporting Egypt’s strategy of expanding textile exports while serving regional and domestic demand.
Qantara West Continues to Attract Textile Investment
Speaking after the signing ceremony, Walid Gamal El-Din said the Qantara West Industrial Zone is witnessing strong momentum in attracting foreign direct investment across priority sectors, particularly textiles, ready-made garments, food industries and logistics.
He noted that the industrial zone currently hosts 53 active industrial, service and logistics projects, representing total investments of approximately US$1.48 billion.
These projects occupy more than 3.42 million square meters and are expected to generate around 69,000 direct jobs.
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Supporting Egypt’s Industrial Strategy
Gamal El-Din emphasized that each new investment in targeted manufacturing sectors contributes to reducing Egypt’s import bill, increasing exports and strengthening the country’s position as a regional manufacturing hub.
He reaffirmed SCZone’s commitment to supporting investors through continued infrastructure development and the timely delivery of utilities and industrial services across its industrial zones and seaports.
The latest investment further reinforces Egypt’s efforts to attract international textile manufacturers while expanding local production capacity and export-oriented industrial development.
