Egypt's Suez Canal Economic Zone (SCZone) chairman Walied Gamal El-Dien laid the foundation stone of the Hi-Tech Apparel North Africa sportswear factory project on Monday, marking the first Thai industrial investment in both SCZone and Egypt. The factory spans 64,000 square metre, with a $20 million investment (approximately 1 billion Egyptian pounds), and is expected to create 2,000 direct jobs. When fully operational, it aims to produce 6 million sportswear pieces annually to cater to global markets, particularly in Europe and the US. Gamal El-Dien highlighted the project as a testament to the zone's efforts to attract global investments and improve local infrastructure. He also noted that 130 factories are currently under construction in SCZone, setting a historic milestone. The factory is set to open early next year, further strengthening Egypt's partnership with Thailand and contributing to the region's textile and clothing industries. Hi-Tech Thailand, a leading sportswear manufacturer for brands like Nike and Jordan, operates 10 factories globally and employs over 14,000 workers. With an annual production volume exceeding 60 million pieces and revenues surpassing $220 million, the Hi-Tech North Africa factory marks the company's first investment in the Middle East and Africa. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
