Waleid Gamal El-Dien, chairman of the Suez Canal Economic Zone (SCZone), arrived in the city of Hangzhou in Shanghai, to discuss Means of cooperation with investors and businessmen in several fields, most notably the textile industries and other targeted sectors.
On the first day of his second promotional tour in the People's Republic of China, the chairman of SCZONE attended a round table with Chinese companies specialized in the manufacture of textile materials and ready-made clothing, and major textile manufacturers.
It was the first project established in the West Qantara Industrial Zone. This encouraged many Chinese investors in the clothing and textile industry to cooperate with SCZONE and establish their projects specifically in the West Qantara Industrial Zone. The chairman of SCZONE also signed 3 letters of interest regarding establishing textile projects for which contracts will be signed in the coming months. The first was with Shaoxing Yuding Textile Company, which is a company specializing in the production and trade of fabrics. The company aims to establish a new factory under the name"DINGHANG. Egypt Co" in the West Qantara Industrial Zone, on an area of 12.7 thousand square meters, with investments of $5 million.
In addition to signing LoI with Indochine Holdings Pty Ltd, an Australian investment company founded in 2004 and headquartered in Hangzhou, China, with global experience in designing and manufacturing clothing. It aims to establish a new factory in West Qantara Industrial Zone on an area of 65 thousand square meters, and the total investment is estimated at approximately $21.3 million. It also aims to export all manufactured products to the American and European markets.