Yet another textile project is in the works in the Suez Canal Economic Zone, with GS Global Sourcing becoming the latest to sign a contract to build a new factory, according to a statement from the zone. The company will fully finance the construction of a USD 15 mn ready-made garment factory in the Qantara West Industrial Zone.

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The details: The factory will have an annual production capacity of 12 mn pieces, all of which will be exported. The project is expected to create 2k direct jobs.

The project marks the latest in an influx of Chinese investments targeting the zone, which now number around 200, Suez Canal Economic Zone head Walid Gamal El Din previously said. In just the last few weeks, other recent entries into the Suez Economic Zone — and Qantara West in particular — include Kinlead Innovative Materials, Guangdong Hongxin Textile, Top New Garment Group, and Xinxing Ductile Iron Pipes — to name but a few.

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