{"id":662052,"date":"2025-03-10T00:00:00","date_gmt":"2025-03-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/10\/chinas-di-seta-breaks-ground-on-usd-40-mn-factory-in-qantara-west\/"},"modified":"2025-03-10T00:00:00","modified_gmt":"2025-03-10T00:00:00","slug":"chinas-di-seta-breaks-ground-on-usd-40-mn-factory-in-qantara-west","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/10\/chinas-di-seta-breaks-ground-on-usd-40-mn-factory-in-qantara-west\/","title":{"rendered":"China\u2019s Di Seta breaks ground on USD 40 mn factory in Qantara West"},"content":{"rendered":"<p class=\"tag-border-left\">MANUFACTURING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Qantara West is getting another USD 40 mn project: <\/strong>Chinese firm Di Seta has begun construction work on a USD 40 mn ready-made garments factory in the Qantara West Industrial Zone, according to a Suez Canal Industrial Zone <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid02e3uSvwCjFrAfUoke317biGF7y6c1NuLjurPhmY37CuECmJKsFu3FHkiai8mjza1Gl\" style=\"\" rel=\"noopener\">statement<\/a>. The 83k sqm factory is expected to begin operations in September and create some 1.2k direct jobs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INDUSTRY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IDG launche<\/strong><strong>s 1.6 mn sqm industrial offering in New October: <\/strong>Industrial Development Group (IDG) has begun offering 1.6 mn sqm of land for industrial projects in New October City as the first phase in the development of a 2.6 mn sqm plot secured earlier this year, the company\u2019s Managing Director Shady William told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%ac%d9%85%d9%88%d8%b9%d8%a9-idg-%d8%aa%d8%b7%d8%b1%d8%ad-1-6-%d9%85%d9%84%d9%8a%d9%88%d9%86-%d9%85%d8%aa%d8%b1-%d9%85%d8%b1%d8%a8%d8%b9-%d9%84%d8%a5%d9%82%d8%a7%d9%85\/\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%ac%d9%85%d9%88%d8%b9%d8%a9-idg-%d8%aa%d8%b7%d8%b1%d8%ad-1-6-%d9%85%d9%84%d9%8a%d9%88%d9%86-%d9%85%d8%aa%d8%b1-%d9%85%d8%b1%d8%a8%d8%b9-%d9%84%d8%a5%d9%82%d8%a7%d9%85\/\" style=\"\" rel=\"noopener\">Mal<\/a>. The land had been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e9a13c9-939c-4cba-b2a7-84ae2adae5a5\/%253cmark%253eidg%253c%2Fmark%253e-to-invest-egp-3-bn-developing-its-zones-this-year\" style=\"\" rel=\"noopener\">allocated<\/a> to IDG by the New Urban Communities Authority back in 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the timeline? <\/strong>IDG plans to deliver plots to investors within a year, according to William. Investors will need 1-2 years to build their factories and launch operations. The first phase of infrastructure development and plot sales is expected to wrap up within 3-4 years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FRA extends Wafa\u2019s deadline for Delta Ins. takeover offer: <\/strong>The Financial Regulatory Authority (FRA) granted Morocco\u2019s <a target=\"_blank\" href=\"https:\/\/www.attijariwafabank.com\/en\/brands-and-Moroccan-subsidiaries\/wafa-assurance\" style=\"\" rel=\"noopener\">Wafa Assurance<\/a> a 60-day extension starting 4 March to submit a mandatory offer for its planned takeover of <a target=\"_blank\" href=\"https:\/\/www.deltains.org\/ar\" style=\"\" rel=\"noopener\">Delta Ins.<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/629.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf).<\/a> The original offer period was due to expire last week. This comes <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a46fec38-2f1e-45df-b14f-419879445820\/who%25e2%2580%2599s-behind-the-country%25e2%2580%2599s-first-pipe-fund%3F\" style=\"\" rel=\"noopener\">days after<\/a> the regulator extended <a target=\"_blank\" href=\"https:\/\/www.axa-egypt.com\/\" style=\"\" rel=\"noopener\">AXA Egypt<\/a> \u2019s deadline to submit a competing bid for Delta Ins.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>In December of last year, the two companies <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8cbf1ee3-522f-4804-a4bf-29b5cb63d6bd\/axa,-wafa-assurance-express-interest-in-buying-up-to-100%2525-of-delta-ins.\" style=\"\" rel=\"noopener\">registered their interest<\/a> to buy up to 100% of the Egypt Kuwait Holding subsidiary at an estimated EGP 5 bn valuation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FABMisr rolls out<\/strong><strong> E-Connect: <\/strong>First Abu Dhabi Bank Misr (FABMisr) has launched a new online banking platform designed to serve multinationals and large corporates \u2014 dubbed E-Connect \u2014 it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/659.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The platform allows companies to manage accounts across multiple banks, track loans and deposits, and generate real-time statements.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS- IDG launches 1.6 mn sqm industrial offering in New October<\/p>\n","protected":false},"author":1,"featured_media":662053,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,429,204,72,2764,181,131,7104],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-662052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-axa-egypt","tag-banking","tag-enterpriseam","tag-industrial-development-group","tag-insurance","tag-manufacturing","tag-west-qantara-industrial-zone","wpautop","entry"],"acf":{"mongo_id":"5cf9a034-bcae-4baf-bad5-a84b4f8ae2e2","order":"9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/667.jpg","photo_position":"above","homepage_title":"","full_issue_title":"China\u2019s Di Seta breaks ground on USD 40 mn factory in Egypt","related_issue":[662038],"teaser":"PLUS- IDG launches 1.6 mn sqm industrial offering in New October","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.99151104-76f3-4ed7-9af9-d797c8e18cbc.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>China\u2019s Di Seta breaks ground on USD 40 mn factory in Qantara West - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/03\/10\/chinas-di-seta-breaks-ground-on-usd-40-mn-factory-in-qantara-west\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s Di Seta breaks 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