{"id":661305,"date":"2025-02-25T00:00:00","date_gmt":"2025-02-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/25\/eroglu-garments-to-establish-usd-120-mn-garments-factory-in-qantara-west\/"},"modified":"2025-02-25T00:00:00","modified_gmt":"2025-02-25T00:00:00","slug":"eroglu-garments-to-establish-usd-120-mn-garments-factory-in-qantara-west","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/25\/eroglu-garments-to-establish-usd-120-mn-garments-factory-in-qantara-west\/","title":{"rendered":"Eroglu Garments to establish USD 120 mn garments factory in Qantara West"},"content":{"rendered":"

Good afternoon all you lovely people, and happy Tuesday.<\/strong> We have a busy issue for you today, with all the latest on our newest Turkish textiles investment, the potential drawbacks of space travel, and all the recs you never knew you needed.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

Eroglu <\/strong>Garment<\/strong>s doubles down on Egypt investments with plans for USD 120 mn <\/strong>garment factory:<\/strong> The Suez Canal Economic Zone (SCZone) has signed an agreement with Turkish clothing manufacturer Eroglu Garments to build a fully integrated USD 120 mn garment factory in the SCZone\u2019s Qantara West Industrial Zone, according to a statement viewed by EnterpriseAM. The facility will span 100k sqm and cover all production stages from spinning to final garments, with the aim of producing 30 mn pieces annually. A second phase of the project is currently in the works, with the possibility of bringing total investments to USD 180 mn. <\/p>\n

We saw this coming: <\/strong>Turkish ambassador to Egypt Salih Mutlu \u015een said last month<\/a> that Eroglu Holding, Eroglu Garments\u2019 parent company, was mulling plans to invest USD 120 mn in the Qantara West Industrial Zone, with Turkish companies expected to pump at least USD 300 mn into Egypt this year. <\/p>\n

This is just the latest in a spate of recent investments by Eroglu Holding<\/strong>, with the firm beginning construction on a USD 40 mn garment factory<\/a> in Qantara West in August and breaking ground on a USD 51 mn garments factory<\/a> in the zone in November. <\/p>\n

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THE BIG STORY ABROAD<\/p>\n

Amid a relatively slow int\u2019l news day<\/strong>, outlets across the world are picking up the passage of a US-led UN Security Council resolution calling for a \u201cswift end\u201d to the Russia-Ukraine war with the backing of Moscow and Beijing \u2014 Washington\u2019s typical antagonists among the council's five permanent members. The move has driven a further wedge in the increasingly tense relationship between the US and its European allies, with France and the UK abstaining after failing to delay the vote. <\/p>\n

The widening US-EU rift was on full display in a meeting between US president Donald <\/strong>Trump and French president Emmanuel Macron<\/strong>, who has been attempting to position himself as the champion of European multilateralism as the transatlantic alliance stumbles. Despite the relatively cordial tone of the meeting, the two leaders were clearly and vocally at odds, with Macron firmly stating that Russia is the aggressor in the war, a stance Trump refused to echo. (Reuters<\/a> | FT<\/a>)<\/p>\n

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