The Suez Canal Economic Zone (SCZONE) Chairman visited Shanghai, where agreements were inked with Chinese investors and business leaders, emphasizing the localization of industries within SCZONE's ports and regions. Textiles emerged as a prominent focus, with SCZONE signing agreements with leading Chinese companies to establish textile projects valued at $101.3 million within the West Qantara Industrial Zone. The usufruct agreement with Hengsheng Dying Zhejiang Co. represents a $70 million investment in a dyeing, processing, and textile manufacturing project spanning 200,000 square meters.
In addition, letters of interest were signed with Shaoxing Yuding Textile Co, Dinghang Egypt, Shengzhou Captain Industrial & Trading, and Indochine Holdings, reflecting intentions to establish textile projects with combined investments of $31.3 million, reinforcing plans to export a significant portion of production to American and European markets.