South Korea's H&L Corp signed Tuesday a contract with Egypt's Suez Canal Economic Zone (SCZONE) to establish a $12 million ready-made and sportswear factory in the West Qantara Industrial Zone, marking the first Korean investment in the area. The plant, to be built on 40,000 square metres, is expected to create around 2,000 direct jobs, according to a SCZONE statement. SCZONE Chairman Waleid Gamal El-Dein said the project supports Egypt's efforts to localise textile and garment manufacturing and reduce production costs by relying on locally sourced materials and logistics services. He added that the initiative aligns with the government's economic reform and industrialisation strategy aimed at boosting export-oriented sectors. The SCZONE chief noted growing global interest in West Qantara following the completion of its first development phase and the launch of several new projects, which he said underscores international confidence in Egypt's investment climate. The West Qantara Industrial Zone now hosts 45 projects across 2.837 million square metres, with total investments of $1.18 billion and around 62,165 direct jobs, the statement said. Founded in 1988 in Seoul, H&L is a global manufacturer and exporter of sports and casual apparel and a strategic partner of the US-based Outerstuff, which designs and distributes licensed merchandise for major sports leagues including the NFL, MLB, NBA, NHL, MLS and also college league. Attribution: Amwal Al Ghad English
