SCZone Signs Contract for Turkish "Eroglu DNM" with Investments of $40 Million

The General Authority for the Suez Canal Economic Zone (SCZone) signed Sunday a contract for the Turkish "Eroglu DNM", a  jeans factory project in the Qantara West Industrial Zone.

The contract was signed by Walid Gamal El-Din, head of the Suez Canal Economy, and Nurten Eroglu, head of the Eroglu Group, in the presence of a number of authority officials and company representatives. The project covers an area of 62 thousand square meters, and its investment cost is $40 million. It also provides about 2,750 job opportunities. It aims to produce 7.2 million pieces of jeans, and plans to export 70% of production abroad, and allocate 30% of production to the local market.

On the sidelines of the signing, Walid Gamal El-Din stated that the promotional efforts carried out by the economic zone in the recent period were crowned with success, as the authority succeeded in attracting a number of investments to the West Qantara Industrial Zone, which in turn are labor-intensive projects that contribute directly to achieving development through what it provides. Of job opportunities, he added that the clothing factory project, whose contracts were signed today, is an example of the success of the promising partnership between the economic zone and Turkish investments, especially in the field of textile and ready-made clothing industries, pointing out what this reflects in the transformation of the economic zone into the ideal investment destination in the next stage.

On his part, Nurtin Eroğlu expressed his happiness with the partnership with the Suez Canal Economic Zone, stressing that the Eroğlu DNM Factory project is distinguished by its reliance on raw materials of fabrics that are produced locally at the company’s existing factory in Damietta Governorate. He indicated that it is planned that construction of the factory will begin next June. Work within the factory will begin in early 2025, adding that the company, with its more than 40 years of experience in the field of textile and clothing production, aims for the aforementioned factory to be an export base for global markets.

It is worth noting that the Suez Canal Economic Zone witnessed, during the period from January to March 2024, the contracting of 37 various projects at an investment cost amounting to about $894 million, of which 13 projects received final approval, and 24 projects received initial approval, which represents a new investment leap in addition to For the economic zone’s successes, in fulfillment of the Egyptian state’s development plans.