CAIRO, March 9 (MENA) - The General Authority For Suez Canal Economic Zone (SCZone) announced Sunday the laying of the foundation stone for the first phase of the project of the Chinese company Di Seta Textile Co. for accessories and ready-made clothes, in the Qantara West Industrial Zone.

The investment cost of the first phase of the project amounts to dlrs 40 million.

The project is an affiliate to the Authority in Ismailia Governorate.

In a statement Sunday, the SCZone said CEO of the General Authority of the Suez Canal Economic Zone (SCZone) Walid Gamal el-Din took part in the foundation stone laying ceremony, along with Governor of Ismailia Akram Galal and Vice President of Di Seta Textile Co. Jason Yao, in addition to a number of executive leaders of the Authority and Ismailia Governorate.

Chairman of the SCZone said the SCZone is pressing ahead towards attracting investments in the targeted industrial sectors, stressing keenness on diversifying investments to embrace all industrial zones affiliated with the Authority.

Gamal el-Din said the economic zone has succeeded in attracting 15 projects so far to the Qantara West Industrial Zone, on a total area of ​​approximately 1,031,000 square meters, with investments amounting to dlrs 490 million.

The projects contribute to generating more than 20,000 direct job opportunities, he added.

The projects attest to success of the Authority's efforts over the past 30 months, whether in organizing promotional tours aimed at attracting various investments within the Authority, or in terms of investing in infrastructure and facilities with international specifications, in addition to efforts meant to digitize services provided to investors, which contributed greatly to creating an investment climate within the Authority, accoring to the Authority's chairman.

He said the SCZone aims to transform the Qantara West Industrial Zone into a key hub for textile and clothing industries, in addition to a number of targeted sectors, with a view to meeting needs of local market and providing products with global quality, as well as upping the volume of Egyptian exports to global markets within the framework of the Egyptian State's plan in this regard. (MENA)

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