The Suez Canal Economic Zone (SCZone) signed a contract with Chinese company Zhejiang Hongda Textile Co to establish a US $20 million textile manufacturing and processing project in the Qantara West Industrial Zone.
The facility is expected to export 70% of its total production and the development, which spans 60,000 square metres is projected to create approximately 500 direct jobs, according to an SCZone statement.
Zhejiang Hongda Textile is a producer of outdoor fabrics which include water proof & UV resistant fabrics, luggage fabrics, sofa and chair fabrics, etc.
Established in 1995, Zhejiang Hongda Textiles is a vertically integrated manufacturer specializing in outdoor leisure fabrics.
Located in Taizhou Bay New Area, Zhejiang, China, HongdaTEX has over 600 employees, a production area of 160,000 square meters, and RMB 400 million in fixed asset investment.
The company has complete production in-house facilities like yarn texturising, weaving, dyeing, finishing, coating, lamination, and PVC calendaring and produces around 100 million meters of fabric per year.
Speaking on the sidelines of the signing ceremony, SCZone Chairperson Gamal El-Din said the Qantara West zone is experiencing rapid growth in attracting direct investment from various countries across priority sectors, led by textiles, ready-made garments, food industries, and logistics operations.
The total number of active industrial, service, and logistics projects in the Qantara West Industrial Zone has reached 53, Gamal El-Din said.
Total investment costs for these projects have reached $1.48 billion, covering an aggregate area of more than 3.42 million square metres and providing around 69,000 direct jobs.
He noted that the SCZone remains committed to providing all necessary support to investors and industrial developers, ensuring that infrastructure and utility projects are completed according to scheduled timelines to meet demand across the authority’s industrial areas and maritime ports.
