Egypt's Suez Canal Economic Zone (SCZONE) signed three agreements worth a combined $52.6 million with Chinese textile companies during a promotional roadshow in China, the authority said in a statement on Tuesday. The deals, signed by SCZONE Chairman Waleid Gamal El-Dien in Nanjing, aim to establish textile and ready-made garment factories in West Qantara Industrial Zone, creating around 3,500 direct jobs. China's Changzhou East Noah Printing and Dyeing will build a $20 million integrated textile plant spanning 80,000 square metres to produce home textiles, 90 per cent of which will be exported. Changzhou Golden Spring Textile Co., Ltd. plans a $24 million facility to manufacture premium fabrics and linen sets for markets across MENA, Europe and the Americas. A third agreement was signed with Jiangsu Sainty, a unit of Jiangsu SOHO Holding Group, to set up a $8.6 million ready-made garments factory dedicated entirely to exports. "These projects mark a new step in our strategic partnership with China," said Gamal El-Dien. "The textile sector is a key priority for SCZONE due to its job creation potential and integration with auxiliary industries." The new projects raise the total number of Chinese investments in West Qantara to 18 and bring the zone's total contracted investments to about $734 million across 28 projects, SCZONE said. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
