The Suez Canal Economic Zone Authority signed a contract this morning at its headquarters in the administrative capital to establish the Turkish Nile Ormeh Limited project for textile and clothing manufacturing in the West Kantara industrial area affiliated with the authority. The investment cost of the project reaches 35 million USD (approximately 1.75 billion EGP), with a total area of about 33,000 square meters. The project will provide about 2,000 direct job opportunities and aims to export 90% of its production abroad. The contract was signed by Vali Fateh Ozersoy, Chairman of Nile Ormeh Company, in the presence of several executive leaders of the authority and company representatives.

On the sidelines of the signing ceremony, Walid Gamal El-Din confirmed that the West Kantara industrial area is a comprehensive regional center for the textile and ready-made clothing industry and its accessories. So far, 34 actual contracts have been signed with total investments of 859.3 million USD, covering a total area of 2,180,400 square meters, providing more than 48,000 direct jobs. These projects mainly target exporting their production to global markets under international trade agreements (FTAs) and the unique location of the authority as a link between continents. He highlighted the effective role of integration between industrial zones and ports affiliated with the authority, proving the success of the strategic approach in enhancing export industries, deepening local manufacturing, and localizing supply chains in the textile sector, from raw material production to manufacturing various fabrics and ready-made clothes for major global brands.

The chairman also noted that the availability of trained technical labor and diverse energy sources at competitive costs are additional investment incentives, especially in West Kantara. The authority continues to intensify efforts to attract more investments in targeted sectors to achieve the state’s goals of deepening industry and boosting exports. He also mentioned the upcoming opening of several projects in West Kantara, including factories and infrastructure projects, and announced the authority’s intention to conduct its first promotional tour in Turkey at the end of September to attract more investments.