Saturday 21 Dec
Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone Authority, recently presided over the groundbreaking ceremony for the "Eroglu Egypt Ready-made Garments" project in the Qantara West industrial zone. This venture, a partnership with the Turkish holding company Eroglu, signifies a significant investment of $51 million and is expected to create 5,000 jobs upon completion.
The ceremony was attended by Major General Akram Galal, Governor of Ismailia, the Turkish Ambassador to Cairo, Saleh Mutlu Shen, the Chairman of Eroglu SC Ready-made Garments Group, Shahin Eroglu, the Vice Chairman of Eroglu Holding Company, Omit Eroglu, Mustafa Denizir, representative of the Turkish Economic Relations Board, the Deputy Chairman of the Suez Canal Economic Zone for the northern zone, investment and promotion, a member of the House of Representatives from the Qantara area, and a host of high-ranking officials from both Egypt and Turkey, and official state agencies.
During the groundbreaking ceremony, Walid Gamal El-Din highlighted Qantara West's strategic advantages, including skilled labor, abundant raw materials, and proximity to ports. He emphasized the area's potential to become a global hub for textiles, ready-made garments, and food industries. With ongoing projects and integration with the authority's ports, Qantara West aims to capitalize on free trade agreements and reach a global market of two billion consumers.
Gamal El-Din underscored the successful public-private partnership that made this project possible. He attributed the project to the authority's promotional efforts to attract major global companies. Expressing pride in the rapid development of the area, he noted that this is the third project in Qantara West in less than four months.
To further enhance the area's
appeal, the authority is working to create an integrated community with
amenities like commercial centers, bank branches, and other essential services
to support businesses.
The Chairman of the Suez Canal
Economic Zone highlighted that the Eroglu Egypt Ready-made Garments Company
project is the second Turkish investment in Qantara West. He credited the Zone
Authority's efforts in developing infrastructure for making the area an
attractive destination for industrial investments. This project is expected to
enhance the Zone's regional and global competitiveness as a leading industrial
and logistics hub. The Chairman attributed this success to the
investment-friendly environment fostered by Egypt's economic reforms under
President Abdel Fattah El-Sisi, which has boosted investor confidence and
improved the business climate.
Shahin Eroglu expressed his
satisfaction with partnering with the Suez Canal Economic Zone Authority to
establish the Eroglu Egypt Ready-made Garments Company project in Qantara West.
He emphasized the area's potential as a hub for the textile and ready-made
garments industry and highlighted the project's role in strengthening economic
ties between Egypt and Turkey. Eroglu noted that the company, with a global
presence in 38 countries and 15,000 employees, aims to expand its footprint in
Egypt by increasing the number of branches to 100 within the next five years.
In addition to ready-made
garments, the company is also involved in real estate development and seeks to
replicate this expertise in Egypt. The new factory in Qantara West is expected
to significantly boost production, reaching 24 million pieces of clothing
annually. Eroglu emphasized the company's commitment to social responsibility,
including creating job opportunities and adopting sustainable practices like
clean energy and water recycling.
It's worth noting that this project builds on the successful partnership between the Suez Canal Economic Zone Authority and the Administrative Control Authority. Together, they've localized 151 industrial projects aimed at boosting exports.
