SCZONE chairman Walid Gamal El-Din attended the signing of the Velvet project, which spans 2,300 square metres and features advanced machinery valued at $2 million. The factory will specialise in prayer rugs, velvet fabrics, and woven textiles, with a target of $6 million in exports by 2025, while creating 50 job opportunities, according to Egyptian media reports.
The Legend project agreement was also finalised, encompassing 1,150 square metres with a $1 million investment. The facility will be equipped with 20 circular knitting machines, a printing machine, and a packaging unit to enhance textile production. With a target export volume of $4 million by 2025, the project is set to create 30 job opportunities.
SCZONE has signed agreements for two textile projects in the Sokhna Industrial Zone, Egypt, developed by MDC, with a total investment exceeding $3 million.
The Velvet project, spanning 2,300 square metres, will focus on prayer rugs and textiles, aiming for $6 million in exports by 2025.
The Legend project, covering 1,150 square metres, will enhance textile production.
The chairman highlighted that MDC operates as the developmental arm of SCZONE, with the authority holding a 75 per cent stake in the company. He reiterated SCZONE’s commitment to supporting MDC, particularly in the plug-and-play ready-made factories project, which covers 222,000 square metres and aims to develop 150 factory units in three phases, with a total investment of 1 billion Egyptian pounds (LE).
The first phase of the project, which involved the construction of 14 factories with a total investment of LE 150 million, has been fully contracted. Meanwhile, the second phase, currently in progress, includes the development of 60 ready-made factories at an estimated cost of LE 350 million. The third phase will introduce 76 additional units with a projected investment of LE 500 million.
Fibre2Fashion News Desk (SG)
