SCZone inks $18 mln deal with Turkish company to establish spinning factory

The self-financed factory will span 35,000 square metres and generate around 855 direct jobs. Eighty percent of its production will be exported, while 20 percent will be directed to the local market.

In a statement, SCZone chairman Walid Gamal El-Din confirmed that the Qantara West Industrial Zone is steadily advancing as a regional hub for the textile and ready-made garment industries.

He stressed that it is supported by integrated supply chains, qualified infrastructure, and a strategic geographic location at the center of SCZone’s port network, which is connected to comprehensive logistical and service corridors.

He emphasized that this new project reflects the zone's growing success in attracting specialized investments from international companies drawn by the stable business climate and competitive incentives provided by the Authority.

The statement highlighted the increasing appeal of Qantara West as a preferred destination for investors in labor-intensive, export-oriented industries that seek to add local value.

Gamal El-Din also pointed out that this factory marks the 24th project contracted in the Qantara West Industrial Zone, bringing the total investment to USD 661.5 million and creating 34,455 direct job opportunities.

Ulusoy is considered one of the largest producers of premium yarns in Europe. It exports its products to markets worldwide with a monthly output exceeding 1,000 tons.

Last month, the SCZone signed a $17 million agreement with China’s Hightex Industrial to build a decorative fabric plant and another $15 million with GS Global Sourcing to establish a ready-made garment factory within the same zone.