Monday, 25 May 2026
Egypt inks $19.9 million textile factory deal in Suez Canal Economic Zone
The Suez Canal Economic Zone (SCZONE) is set to welcome a new textiles manufacturing project by Egyptian company CWA, following the signing of an investment contract worth approximately $19.9 million (970 million EGP). The agreement was signed in the presence of SCZONE Chairman Walid Gamal El-Din and marks a significant step in Egypt’s push to boost local manufacturing, increase value-added exports, and attract sustainable industrial investment.
Located in the Sokhna Industrial Zone and covering 15,000 square meters, the new CWA facility is due to begin production in the third quarter of 2026. The project will initially create about 200 direct jobs, with plans to expand the workforce to 500 over the next five years.
CWA’s new plant will focus on producing a range of textiles and floor coverings for domestic and international markets. The company targets $10 million in exports in its first year of operation, aiming to reach $30 million annually within five years, according to CWA Director Ashraf Abu El-Einen.
Chairman Walid Gamal El-Din emphasized the SCZONE’s strategic advantages, such as integrated infrastructure and proximity to ports, as key factors attracting investors. He underscored the growing importance of the textile sector in SCZONE’s strategy, given its potential to reduce imports, support various supply chains, and expand exports.
This investment forms part of a broader effort to drive local industrialization and create an enabling environment for value-added production in Egypt’s leading economic zone.