USD 60 Million Eco-Friendly Textile Factory to Open in Ain Sokhna
The factory will produce environmentally-conscious, high-quality fabrics and clothing using smart manufacturing processes.
The Suez Canal Economic Zone (SCZONE) and the Chinese industrial developer TEDA-Egypt have just laid the first stone for a new eco-friendly textile and garment factory in the Sokhna Integrated Industrial Zone.
Specialising in polyester textiles, the new factory - called Egypt Cady Textiles - will produce environmentally-conscious, high-quality fabrics and clothing using smart manufacturing processes.
TEDA-Egypt has been pursuing a project of expansion in the Sokhna area, where it already has over 130 industrial and service facilities, racking up over USD 1.6bn in investments. The new factory is the next step in this expansion, and is the largest in the TEDA region, spanning across 145,000 square metres.
To be built in three phases, the project is expected to be ready by the end of 2024, and will boast a production capacity of 50,000 tonnes of textiles and 8 million pieces of clothing per year, making a USD 150 million return on its planned USD 60 million investment.
After 15 years of partnership, the two companies are now working to foster investment opportunities in the Suez Canal region. So far, over USD 600 million in investments has been agreed upon in various areas such as electrical appliances, textiles, and energy, among many more.