Part of the signing ceremony. Photo courtesy of Egyptian cabinet.
The SCZone stated on Monday that the project, a joint venture with Dinamik Raus Tekstil and Yiltem Apparel, will be built on a 21,000-square-metre site and produce ready-made garments and textiles using modern dyeing and fabric-treatment techniques.
About 90 percent of output will be exported, with the remainder for the domestic market, and the factory is expected to create around 700 jobs. No timeline for construction or operations was disclosed.
The agreement is part of efforts to boost industrial output and position the zone as a hub for textile manufacturing and export-oriented production.
Dinamik Raus Tekstil, founded in 2017, specializes in fabric dyeing and processing, while Yiltem Apparel, established in 2002, produces ready-made garments at a rate of about 400,000 pieces per month.
The project will be the 15th Turkish investment in the Qantara West zone, bringing total Turkish investments there to about $560.2 million, according to the SCZone.
Separately, officials said an additional Egyptian-Turkish project worth $2.1 million was also agreed upon, without providing further details.
The announcement follows a series of recent deals between Egypt and Turkey in the garments sector, including an agreement last week to build another factory in the same zone, this one worth $16.5 million.
This comes after Egypt set a target earlier this year in February to raise bilateral trade with Turkey to $15 billion and expand Turkish investments across key sectors, seeking to deepen economic ties between the two countries.
These moves align with Egypt's keenness to expand its industrial sector as part of its National Industrial Strategy, currently under review, which includes increasing the industrial sector's contribution to GDP from 15 to 20 percent by 2030, as it is one of five priority sectors in Egypt’s Economic Development Narrative.
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