Turkiye denim producer signs $20m deal to build factory in Egypt to boost exports

Turkiye denim producer Şirikçioğlu Grubu signed a $20m deal to build a factory in Egypt, creating 500 jobs. The plant will produce 18 million tonnes of denim fabric yearly, with half for export and half for domestic use.

The agreement was sealed by Suez Canal Economic Zone chairman and Şirikçioğlu Grubu chairman. The authority aims to attract investments to deepen local manufacturing and boost exports, aligning infrastructure with international demand and improving supply chains.

This marks the 25th project in the Qantara West Industrial Zone, totaling $681.5m in investments and 34,955 jobs. The authority’s strategy focuses on promoting export industries and localizing supply chains in the spinning and weaving sector.

Şirikçioğlu Grubu Textile Turkiye, established in 1997, employs over 5,000 workers and exports denim threads and fabrics globally. Another project with Ulusoy will produce various yarns, creating 855 jobs and costing $18m.

In August, Turkiye’s Eroglu Garment began construction on a $40m ready-made garment factory in the Qantara West Industrial Zone. The aim is to boost exports and deepen local manufacturing in Egypt’s textile industry.

Read more at Yahoo Finance: Turkiye denim producer signs $20m Egypt factory deal to boost exports