China-based fabrics and home textiles manufacturer, Kelida plans to set up a production unit in the Qantara West Industrial Zone in Egypt.
To be developed with an investment of $30 million across 92,000 sq m, the project will be executed in partnership with the Suez Canal Economic Zone (SCZONE).
The textiles unit is a part of a two-project contract worth $38 million signed between Enxiao You, Chairman, Kelida and Waleid Gamal El-Dien, Chairman, General Authority of SCZONE.
More than 90 per cent of Kelida’s production will be directed towards export markets in Europe and the United States. The other project to be developed includes a food manufacturing facility in partnership with the Turkish company Saray Biskuvi ve Gida San AS.
These two projects will bring the total number of contracts being developed in the first phase of the West Qantara Industrial Zone to eight. Collectively, these projects represent investments worth of $309 million, covering 751,000 sq m and generating approximately 14,200 job opportunities.
