The Suez Canal Economic Zone (SCZONE) has secured $38m in investments for two new projects in the Qantara West Industrial Zone. Waleid Gamal El-Din, Chairperson of the SCZONE, signed the contracts on Sunday at the authority's headquarters in the New Administrative Capital. The projects, spanning 137,000 square meters, are focused on food processing and textile manufacturing and are expected to create around 1,450 jobs. The first agreement is with Saray Bisküvi ve Gıda San. A.Ş. (Saray Food Industry), a Turkish company. This marks Saray's first venture in the Qantara West Industrial Zone. The project, covering 45,000 square meters, represents an $8m investment and is forecast to generate 450 jobs. Ninety per cent of the factory's output will be for export. Kamel Ozdag, a board member of Saray, signed the contract. Saray Food Industries is a part of the wider Turkish Saray Holding Group, which has interests in energy, electronics, mechanics, and furniture, in addition to food production. The second agreement is with the Chinese company Kelida, a textile and home fabrics manufacturer with over 30 years of experience. Kelida's project will be a $30m investment, covering 92,000 square meters, and is expected to create 1,000 direct employment opportunities. More than 90 per cent of Kelida's production is intended for export, primarily to European and American markets. Engyao Yu, Chairman of the Board for Kelida, signed the contract. Gamal El-Din stated that the two contracts mean the SCZONE has now finalised eight project agreements in the initial phase of the Qantara West Industrial Zone. These combined projects represent a total investment of $309m, covering 751,000 square meters, and will generate approximately 14,200 jobs. "This is a significant developmental achievement," he said, adding that it establishes "a world-class industrial hub capable of attracting further investments, fostering promising employment prospects, and building investor confidence." He also said the projects would play a vital role in strengthening the national economy through the development of advanced industries. Gamal El-Din also emphasised Qantara West Industrial Zone's strategic location close to seaports, making it attractive to investors and enabling access to regional and international markets. He confirmed the SCZONE's commitment to improving the zone's infrastructure to enable efficient business operations. The authority is dedicated to providing investors with support, including land, logistics, and licensing assistance, to ensure a smooth investment process, he said.Both projects are scheduled to open in the final quarter of 2025.
