Egypt lays foundation stone of Chinese Egypt Cady Textile factory

Reuters Images/Mohamed Abd El Ghany

Worth $60 million in investments, the project is located on a 145,500-square-meter area within the scope of the industrial developer TEDA-Egypt

Staff Writer, Arab Finance

August 28, 2023

PHOTO

The Suez Canal Economic Zone (SCZONE) announced the laying of the foundation stone of the Chinese eco-friendly Egypt Cady Textiles factory at Sokhna Industrial Zone, as per a statement.

Worth $60 million in investments, the project is located on a 145,500-square-meter area within the scope of the industrial developer TEDA-Egypt.

The first phase of the three-phase project is set to start this year and be completed by the end of 2024

With a total capacity of nearly 50,000 tons and 8 million pieces a year, the factory is targeting exporting its production to American and European markets.

The project’s sales are estimated at up to $150 million.

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