Egypt's SCZONE, Thailand's HiTech Apparel Sign $20M Usufruct Contract

Egypt's General Authority Suez Canal Economic Zone (SCZONE) has inked a significant usufruct contract with HiTech Apparel, a Thai ready-made garment company, involving a $20 million investment to establish a factory in the Qantara West industrial zone. This marks HiTech Apparel's inaugural foray into both the Middle East and Africa, expected to generate around one thousand five hundred job opportunities. The SCZONE Chairman hailed the strategic partnership as a milestone, highlighting it as SCZONE's first collaboration with Thailand and underscoring the zone's growing global appeal.

The aim is to develop a global clothing and textiles complex in Qantara West, Ismailia, aligning with SCZONE's vision to attract diverse investments, particularly in the textile and clothing sector. Both parties are keen on expediting the project, with construction set to begin in the latter half of the year and operations scheduled to commence by the second half of 2025.