Turkish ambassador in Cairo Salih Mutlu Şen said: "A $70 million investment agreement was signed between Turkish company Bony Socks and El Sewedy Industrial Development in the 10th of Ramadan Industrial Zone."
In a post on " X", the ambassador added: " The first and most critical phase of the sock manufacturing facilities to be established under the agreement will commence operations within one year."
" I attended the signing ceremony alongside Ahmed El Sewedy, owner of El Sewedy Electric, one of Egypt’s most prominent companies, and Hossam Haiba, Chairman of the General Authority for Investment and Free Zones."
He revealed that the facilities will be the largest in the Arab world and Africa and will operate solely for export.
The ambassador noted that Bony Socks also plans to establish a chain of stores in Egypt. "Congratulations."
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