Türkiye has expanded its industrial footprint in Egypt with the groundbreaking of a new eco-friendly garment factory in Ismailia.
Turkish Ambassador Salih Mutlu Şen and Ismailia Governor Akram Galal laid the foundation stone for the new factory on Tuesday.
President of the Suez Canal Economic Zone Walid Jamal Al-Din and Chairman of the Eroğlu Global Holding Company Nurettin Eroğlu also attended the event.
The facility, built by Turkish ready-made garments firm Eroğlu, is set to create thousands of jobs and boost exports.
Turkish Ambassador Mutlu Şen said that the $40 million investment is expected to generate employment for 3,000 Egyptians.
The 62,000-square-metre factory, which is expected to be operational by December, will also produce seven million pairs of jeans annually for global fashion brands.
It will also feature cutting-edge technology, a recycled water treatment system, and eco-friendly energy facilities.
The new facility is expected to generate $100 million in exports each year.
The Turkish ambassador highlighted “thriving” Turkish investments in Egypt, saying that Eroğlu Global Holding is committed to the region.
Eroğlu already operates a factory in Damietta that was established in 2010 with investments worth $120 million, employing 1,600 Egyptians.
The company plans to invest a further $100m in its Egyptian operations Eroglu Garment and DNM to generate $280 million in exports from Egypt.
