The Suez Canal Economic Zone (SCZONE) has signed an $18 million agreement with Turkish textile company Ulusoy to establish a state-of-the-art yarn production facility in West Qantara Industrial Zone, marking a new milestone in Egypt’s bid to localize textile manufacturing.
The agreement was signed in the presence of SCZONE Chairman Walid Gamal El-Din and senior executives from Ulusoy, underscoring growing Turkish investment interest in Egypt’s strategic industrial zones.
According to SCZONE officials, the factory will span 52,000 square meters and is expected to create over 250 direct job opportunities in its first phase. The plant will produce high-quality yarn for local and export markets, helping to reduce Egypt’s reliance on imported textile raw materials.
“This partnership supports our vision to attract value-added industries and deepen local manufacturing,” said Chairman Gamal El-Din. “The West Qantara area is quickly emerging as a promising hub for textiles and light industries, thanks to its location, infrastructure, and investment incentives.”
Ulusoy representatives expressed confidence in Egypt’s business climate, highlighting the country’s free trade agreements and proximity to African and European markets.
The project aligns with Egypt’s national strategy to revive its textile sector and integrate it into global supply chains, while also boosting employment and export potential. Construction of the new factory is slated to begin later this year.
