SCZone, China’s Shanghai Shengda pen contract to build ready-made garment factory

Egyptian workers sew garments together at a cotton garment factory in Cairo, Egypt on April 6, 2006. Reuters pictures
Reuters Images

The project will be implemented in two phases

Staff Writer, Arab Finance

July 19, 2023

PHOTO
Egyptian workers sew garments together at a cotton garment factory in Cairo, Egypt on April 6, 2006. Reuters pictures

Arab Finance: The Suez Canal Economic Zone (SCZONE) signed a $40 million contract with Chinese Shanghai Shengda for the construction of a ready-made garment factory, the SCZone announced on July 18th.

The first-of-its-kind project in the Qantara West Industrial Area will be implemented in two phases, the first of which will be carried out with $28.5 million in investment.

Production from the project will be fully exported to the US, with a production capacity of 43 million pieces annually.

Since 2019, Chinese Shanghai Shengda invested about $15 million in Egypt.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO