Egypt’s West Qantara Industrial Zone Attracts Investment from India

by · WWD
Manuel Augusto Moreno/Getty

Prestige Denim Mills is establishing a footprint in Egypt.

Last week, the Suez Canal Economic Zone announced that the Indian textile manufacturer will open a $20 million denim fabric production facility in Egypt’s West Qantara Industrial Zone. Prestige’s facility will integrate weaving, dyeing and finishing operations.

SCZONE reports that the project will develop a 100,000-square-meter site and is expected to create approximately 1,000 direct jobs while producing up to 20 million meters of denim fabric annually. SCZONE reports that 70 percent of output earmarked for export markets and the remainder will serve domestic demand.

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The deal is the first Indian investment in the designated industrial area. The investment agreement was signed at SCZONE headquarters in Egypt’s New Capital. There, SCZONE chairman Waleid Gamal El-Dien said the project builds on the success of Indian investments within the Suez Canal Economic Zone.

He added that infrastructure development and industrial expansion efforts have helped attract textile and garment manufacturers to the zone.

Prestige Denim Mills joins companies from Turkey, China and Pakistani investing in the region. Interloop Limited made a $35.2 million investment by a subsidiary of its associate company to establish a manufacturing facility. Ready-made garment manufacturer Denim Rise invested $8.8 million into a factory and Eroğlu Global Holding A.S. established a jeans garment factory that will produce 7.2 million jeans annually.

Investments in textile and ready-made garment projects in West Qantara have exceeded $1 billion, according to SCZONE. The zone has been described as one of the best industrial zones for labor-intensive projects due to its proximity to ports on the Red Sea and the Mediterranean Sea, ensuring its investors easy access to various regional and international markets.

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