Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, witnessed today, at the Authority’s headquarters in the New Capital, the signing ceremony of the contract for the establishment of the Turkish company “Atesan Tekstil” for woven fabrics in the Qantara West Industrial Zone of the Authority. The investment cost of the project is $6.5 million, and the project is located on an area of 20 thousand square meters, and provides about 200 direct job opportunities. The contract was signed by: Dr. Mustafa Sheikhoun, Vice President of the Suez Canal Economic Zone. For investment and promotion, Onur Dalman and Emre Atalik, presidents of the Turkish company.
On the sidelines of the signing ceremony, Walid Gamal El-Din explained that the Suez Canal Economic Zone is keen to provide all aspects of support to investors and industrial developers, especially in the Qantara West Industrial Zone, which has become a global center for the textile, ready-to-wear and food industries, as well as logistical and service activities. He explained that every new project in these sectors represents a direct reduction in the import bill and an increase in Egyptian exports abroad in addition to meeting the needs of the local market and neighboring regional markets, pointing out that it is the result of demand. With the increasing investment in this promising region, the Authority continuously monitors the rates of project implementation according to the agreed-upon timetables. In light of this, the Authority excludes companies that are not serious about completing the contract terms.
The head of the Suez Canal Economy indicated that the number of actual projects in the Qantara West Industrial Zone reached (52) projects, ranging from industrial, service, and logistical, and the total investment costs for these projects amounted to 1.53 billion dollars. These projects occupy a total area exceeding 3.54 million square meters, and also provide about 72 thousand direct job opportunities.
