ZONES-

Egypt’s Qantara West to get another export-bound facility: The Suez Canal Economic Zone (SCZone) has inked a contract with Chinese firm Hightex Co., Ltd Hangzhou for the development of a USD 17 mn (EGP 851.7 mn) factory for decorative fabrics and furniture in the Qantara West Industrial Zone, according to a statement. The factory is slated to produce over 20 mn meters of fabrics annually — with all of the production earmarked for exports.

About the project + zone: The facility — set to cover 65k sqm — is situated next to a cluster of factories in the fabric and textile industry in the zone, which is emerging as a textile production and export hub for Chinese players, including GS Global Sourcing, Guangdong Hongxin Textile, Top New Garment Group, Hi-Tech Apparel, Jiangsu Guotai and Di Seta. China players announced combined investments in the zone of nearly USD 105.5 mn — based on our own calculations — in 2025 alone.

Turkish players are also hot on their heels: Turkish firm Eroglu is setting up two factories in the zone with a combined ticket of USD 160 mn. Turkish clothing producer Katia and Bony also announced a USD 50 mn investment into the zone earlier this year.

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

DATA CENTERS-

Two Saudi-US data center agreements sealed: Saudi data center firm DataVolt signed agreements with US-based companies Vertiv, a multinational provider of critical infrastructure and services, and global energy tech company Baker Hughes, on the sidelines of the Saudi-US Investment forum on 13 May, it said in two posts on LinkedIn (here and here).

The details: The agreement with Vertiv aims to develop scalable, energy-efficient data center infrastructure in the Kingdom, while Baker Hughes will collaborate with DataVolt to advance sustainable energy solutions for its future digital infrastructure.

ICYMI- The White House revealed plans earlier this month for DataVolt to invest USD 20 bn in US-based AI data centers and energy infrastructure, alongside commitments from companies like Google, Oracle, Salesforce, AMD, and Uber totaling USD 80 bn in joint technology investments in the Kingdom and the US.

TRADE-

Six local companies formed the Egyptian Industrial Export Hub to expand into Kenya, Nigeria, and Ghana, Al Borsa reports, citing Egyptian Industrial Export Hub Managing Director Mona Wahba. The alliance will begin by exporting building materials and chemical products during the first six months, and will later broaden its offerings to match the needs of each market. The alliance is also planning to open a logistics warehouse in Nairobi to develop a case to encourage Egyptian exports to Kenya, Uganda, Tanzania, and South Sudan, she added.

AVIATION-

#1- PIF-backed Riyadh Air picked Saudi Awwal Bank (SAB) and HSBC to handle its Middle East and Asia cashflow and payment systems, Saudi Gazette reports. The two companies will manage the airline’s financial operations, including payments and e-commerce transactions, with SAB taking on operations at home and HSBC supporting the wider Middle East and Asia markets.

#2- Air France’s first direct flight between Paris and Riyadh landed at King Khaled International Airport on Tuesday, it said in a press release. The French air carrier is currently operating three weekly flights, planning to add another two starting Wednesday, 18 June.

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