Wednesday, 27 May 2026
Egypt signs $18 million investment deal with Turkish textile firm to boost regional industry and jobs
Ismailia, Egypt– The Suez Canal Economic Zone (SCZone) announced today the signing of an $18 million agreement with Turkey’s Ulusoy Tekstil, marking a significant step forward in Egypt’s efforts to strengthen its textile and garment manufacturing industry and create new jobs.
The contract, signed by SCZone Chairman Walid Gamal El-Din and Ulusoy’s legal representative, paves the way for establishing a new spinning and yarn-producing factory in the industrial zone of Qantara West. The project will occupy 35,000 square meters and is expected to provide about 855 direct job opportunities for Egyptians. Funding for the project will be provided entirely by the Turkish company itself.
Ulusoy’s new Egyptian factory will produce a variety of fibers and yarns—including carpet yarns, knitting yarns, and handcraft threads—as well as a range of garments. Notably, the company plans to export 80% of its production, with the rest supplying the local Egyptian market.
“Projects like this reinforce Qantara West’s reputation as a regional center for textile and ready-made garment industries,” said Walid Gamal El-Din. He emphasized the zone’s excellent location, advanced infrastructure, and integrated logistics network, which connect factories closely to surrounding ports and support efficient production and exports.
With this latest agreement, the Qantara West industrial zone now hosts 24 major projects representing a total investment of $661.5 million and creating over 34,000 direct jobs. The SCZone’s strategy is focused on promoting export-oriented industries, encouraging local manufacturing, and developing integrated supply chains—from raw materials to finished clothing.
Founded in Turkey in 1986, Ulusoy is one of Europe’s leading manufacturers of premium yarns, with extensive facilities in Adana and Osmaniye, producing more than 1,000 tons monthly for markets around the world.
This new investment is seen as evidence of international confidence in Egypt’s business environment and the growing appeal of the Suez Canal Economic Zone as a destination for labor-intensive, value-added industries serving global markets.