Monday, 25 May 2026
Suez Canal Economic Zone welcomes first Greek industrial investment
In a significant move for regional cooperation and economic growth, the Suez Canal Economic Zone (SCZone) has officially signed an agreement with Greek company TZANIDAKIS MIAXAH MARINOS Co (Murphy) to establish a $4 million ready-made garments factory. The project, named "Mariniro," is set to be built on a 7,000-square-meter site in the SCZone’s Qantara West Industrial Area and is expected to create 1,000 direct jobs.
This landmark investment marks the first time a Greek industrial project has been established in the Suez Canal Economic Zone. Highlighting the occasion, Walid Gamal El-Din, Chairman of the General Authority for the SCZone, and Marinos Tzanidakis, President of the Greek company, signed the contract at the Authority’s headquarters in Egypt’s New Administrative Capital, witnessed by officials from both sides.
The "Mariniro" factory aims to export 70% of its production, reinforcing Egypt’s strategy to boost local manufacturing and increase exports. Chairman Walid Gamal El-Din expressed pride in this new partnership, calling it a foundation for broader cooperation between Egypt and Greece in the Mediterranean region.
Gamal El-Din stressed the importance of diversifying foreign investment in Qantara West, which has rapidly become a regional and international hub for textiles and ready-made garments. "Attracting diverse investments not only reflects our industrial transformation but also creates valuable job opportunities for Egyptians and supports our nation’s vision for industrial localization and export growth," he said.
With the signing of the Mariniro project, the total number of operational projects in the Qantara West Industrial Area rises to 36, spanning various sectors such as textiles, food industries, and logistics, now collectively occupying over 2.3 million square meters. Combined, these projects represent total investments of nearly $1 billion and provide more than 52,000 direct jobs.
The Suez Canal Economic Zone continues its efforts to attract international investors, underlining its central role in driving Egypt’s economic development and connecting global markets through its strategic location.