Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE) Walid Gamal Eldin attended on Wednesday the signing ceremony of a new project contract with CWA Textiles, a leading Egyptian company specializing in spinning, weaving, embroidery, and textile finishing.
The project involves the establishment of a new factory within the industrial developer Main Development Company (MDC) in the Sokhna Industrial Zone.
The facility will cover 15,000 square meters and entails a total investment of EGP 970 million (approximately dlrs 19.9 million), fully self-financed by the company and set to be implemented in phases.
Production is scheduled to commence in the third quarter of 2026, with the first phase expected to create 200 direct jobs, expanding to 500 within five years.
The contract was signed by MDC Managing Director Walid Youssef and CWA Textiles Director Ashraf Abul Einin, in the presence of several SCZone senior officials.
Gamal Eldin described the project as a significant milestone in advancing local industrialization within the SCZONE, underscoring the Authority’s efforts to attract sustainable investments that enhance the added value of Egyptian products and boost their regional and international competitiveness.
He also pointed to the SCZONE’s integrated infrastructure, strategic location, and synergy between industrial zones and ports as key incentives for committed investors.
He noted that the textile industry ranks among the SCZONE’s strategic priorities due to its critical role in providing local alternatives to imported goods, supporting supply chains in various sectors, such as ready-made garments and home textiles, and its promising export potential, particularly given the availability of skilled labor and advanced logistics within the zone.
For his part, Abul Einin stated that the project will be executed over a period ranging from 12 to 48 months and aligns with the company’s strategy to expand its industrial footprint and offer high-quality Egyptian products to both local and international markets.
He added that the company aims to achieve export revenues of no less than dlrs 10 million in its first year of operation, rising to dlrs 30 million within five years, while adhering to the highest standards of quality and sustained development.
The CWA project is part of a broader wave of industrial ventures underway in the Sokhna zone, in line with the SCZONE’s strategy to enhance domestic manufacturing, attract industrial investment, and maximize the zone’s contribution to national economic development.
The factory will produce a wide array of textiles, floor coverings, and carpet backings in various sizes, in addition to complementary industries; including printing, finishing, adhesive application, engraving, cutting, and sewing, serving both domestic needs and export objectives.
