Chinese textile firm to set up a USD 17 mn factory in Qantara West

Another Chinese textile project is coming to Qantara West: Chinese firm Hightex Co., Ltd Hangzhou will set up a USD 17 mn factory for decorative fabrics and furniture in the Qantara West Industrial Zone under a contract inked with the Suez Canal Economic Zone (SCZone), according to a statement.

By the numbers: The facility will produce over 20 mn meters of fabrics annually — with 100% of output earmarked for export — and is expected to generate 300 direct jobs.

A textile hub for Chinese investors: A long list of Chinese players have inked agreements to set up textile factories in the Qantara West Industrial Zone — including GS Global Sourcing, Guangdong Hongxin Textile, Top New Garment Group, Jiangsu Guotai, and Di Seta.

DATA POINT- The SCZone has now inked contracts for a total of 20 projects in the Qantara West Industrial Zone, with investments totaling USD 596.5 mn. The new facilities are expected to generate over 27.6k direct jobs.