Egypt's Suez Canal Economic Zone (SCZONE) has on Tuesday signed a contract with Turkish textile group Nil Örme to establish a textile and garment factory in West Qantara Industrial Zone, with total investments of $35 million (around 1.75 billion pounds), the authority said in a statement. The plant, which will cover about 33,000 square metres, is expected to create 2,000 direct jobs and export about 90 per cent of its output, the statement added. SCZONE Chairman Waleid Gamal El-Dien signed the agreement with Veli Özersoy, General Manager of Nil Örme. The deal brings the number of textile and garment projects in West Qantara to 34, with combined investments of $859.3 million, spanning more than 2.180 million square metres and providing over 48,000 jobs, Gamal El-Dien said. He added that the zone's strategic location, free trade agreements, and integration of industrial and port facilities support Egypt's goal of boosting export-led industries and localizing supply chains in textiles, from raw materials to ready-made garments. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
