The Qantara West Industrial Zone is getting another Chinese textile project, with Shaoxing Beiqi Textile inking a contract with the Suez Canal Economic Zone (SCZone) to establish a USD 7 mn readymade garments factory, according to an SCZone statement. The Chinese company will fully self-finance the project, which is expected to create 3k direct jobs.

Export is the name of the game, with 90% of the 10 mn pieces of annual output earmarked for export and only 10% destined for the local market.

This brings Qantara West’s total number of contracted projects to 21, with a combined investment cost of USD 603.5 mn and the expectation that 30.6k new jobs will be created.

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 Hightex Co., Ltd Hangzhou, GS Global Sourcing, Guangdong Hongxin Textile, Top New Garment Group, Jiangsu Guotai, and Di Seta.

Tags: