Egypt's Suez Canal Economic Zone (SCZONE) on Wednesday signed a $15 million agreement with Infinity Fabric to establish a spinning, weaving, dyeing, and printing plant in the Sokhna Industrial Zone, the authority said in a statement. The move is part of efforts to boost local manufacturing and revive the country's historic textile industry. The project, covering 24,000 square metres within the Main Development Company (MDC) industrial area, will be implemented in two phases—$10 million in the first and $5 million in the second—creating around 1,000 direct jobs, SCZONE added in a statement. Operations are expected to begin in the third quarter of 2026, with an annual capacity of 6,000 tons of yarn and 15,000 tons of fabrics. SCZONE Chairman Waleid Gamal El-Dien, who witnessed the signing ceremony at the authority's headquarters in the New Administrative Capital, said the project aligns with the authority's strategy to localise textile value chains and position Egypt as a competitive hub for industrial production and exports. "The project reflects our direction to restore Egypt's regional leadership in textiles by attracting quality investments that integrate production with export," Gamal El-Dien said. He added that Sokhna's proximity and logistical integration with Port of Sokhna offer competitive advantages for investors in global textile value chains. The Infinity Fabric project is part of a wider initiative under Cabinet Decree No. 151 of 2024 aimed at expanding export-oriented industries in the SCZONE and offering investment incentives to manufacturers to increase local production and reduce import dependence. Attribution: Amwal Al Ghad English
