Egypt’s Suez Canal Economic Zone (SCZONE) announced on Sunday that it has signed an agreement Chinese hosiery giant Zhejiang Jasan Group Co. (JASAN Group) to develop a fully integrated textile and garment complex in the Qantara West Industrial Zone.

SCZONE said the project will span 300,000 square metres (sqm) and will integrate spinning, weaving, and dyeing operations. It will manufacture ready-made garments, sportswear, seamless garments, socks, accessories and rubber textiles with 90 percent of output to be exported, with the rest to be sold in the domestic market.

The complex is expected to create 6,000 direct jobs once fully operational, the statement added.

Qantara West Industrial Zone currently hosts 48 projects across 3.26 million sqm with total investments of $1.325 billion and offering nearly 70,000 direct jobs, according to SCZONE.

(Writing by Eman Hamed; Editing by SA Kader)

(anoop.menon@lseg.com)

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