Investor appetite from China in our textile industry is keeping up the pace, with Changzhou Ramada becoming the latest Chinese textile company to put its hit in the ring. The Chinese textiles company will invest USD 22.6 mn to build a textile manufacturing facility in the Qantara West Industrial Zone, according to a Suez Canal Economic Zone (SCZone) statement.

The details: The 80k-sqm plant will produce home textiles and garments, with an annual capacity of 5k tons of fabric, 4 mn bed cover sets, and 1 mn car carpet sets. Some 90% of output will be exported. The project will create 1.5k direct jobs once operational.

To get a measure of Chinese interest in the sector, we heard about six new Chinese garment and textile factories heading to the SCZone last month alone. These included contracts inked for two factories from Shandong Sunshell Group totalling USD 37 mn and a USD 28.5 mn factory from Zhejiang Charming for Dyeing and Finishing, along with a USD 20 mn factory from Changzhou East Noah Printing and Dyeing, a USD 24 mn factory from Changzhou Golden Spring Textile, and a USD 8.6 mn factory by Jiangsu Sainty Corporation. During the same month, China’s Bridge Textile International and F-Tex International also kicked off construction on two textile projects, with combined investments exceeding USD 55 mn.

DATA POINT- The Qantara West Industrial Zone secured 32 projects worth over USD 822.2 mn in total investments, expected to create 45.6k direct jobs, SCZone head Walid Gamal El Din said. The authority aims to develop the zone into a fully integrated base for textiles, ready-made garments, and accessories, with strong export orientation.

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