SCZone signs agreement with Chinese firm to build $50 mln bags factory

Ahram Online , Thursday 28 Dec 2023

The Suez Canal Economic Zone (SCZone) signed an agreement with Henneway, a Chinese travel bags manufacturer, to build a factory with up to $50 million in investments in the West Qantara Industrial Zone (WQIZ), according to a cabinet statement on Thursday.

SCZONE s Chairman during the signing ceremony. Cabinet.


The new factory is planned to have a total area of 120,000 square metres and create 2,000 jobs. Production will start in the first quarter of 2025.

The recent project joins a series of successful partnerships between the SCZone and Chinese investors, Walid Gamal El-Din, SCZone's chairman, said.

The first phase of the West Qantara zone includes 11 projects in fields such as clothes, medical devices, and sportswear, he added.

These projects are implemented on 1.44 million square kilometres with $1.07 billion in investments to create 20,000 jobs, Gamal El-Din stated.

In November, SCZone signed agreements with Chinese partners to invest $15.6 billion to establish 11 manufacturing and green hydrogen projects on 4.9 million square metres.

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