Eroğlu Global Holding started the construction of a textile factory in Egypt, where it will invest 40 million dollars. The General Authority of the Suez Canal Economic Zone (SCZone) and Eroğlu Global Holding Group held a groundbreaking ceremony on Tuesday for the factory to be built in the West Qantara Industrial Zone.
Egypt-based Amwal Al Ghad reported, citing an SCZone statement, that the factory, which is scheduled to start operations in January 2025, is expected to create 2,750 jobs.
Speaking at the groundbreaking ceremony, SCZone Chairman Waleid Gamal El-Dien said, “Eroglu Global Holdings project opens a new chapter in Turkish investments in SCZone.”
The 64 thousand square meter facility will be the first of its kind in West Qantara. The first phase of the project will focus on building facilities that will produce 7 million jeans per year. The plant is expected to export 70 percent of its production and realize annual sales of 100 million dollars.
Eroğlu Chairman Nurettin Eroğlu announced plans to expand the plant to 400 thousand square meters in the future.
The investment is Eroğlu Global Holding’s third investment in the country.
