SCZONE and HiTech Apparel sign agreement to acquire Egyptian sportswear factory for US$20 million

Cairo – May 2, 2024: Egypt’s General Authority for the Suez Canal Economic Zone (SCZONE) recently announced the signing of an important rights contract with Thai ready-made garment company HiTech Apparel. The agreement involves the establishment of a factory in the Qantara West Industrial Estate, with an investment of US$20 million.

The deal marks HiTech Apparel’s first joint venture in the Middle East and Africa and is expected to create approximately 1,500 jobs in the region.

The contract was officially recognized by SCZONE Chairman Walid Gamal El-Din and HiTech Apparel CEO Wason Vitanakorn.

Chairman El-Din expressed excitement about this strategic partnership, stressing that this is the first such partnership between SCZONE and Thailand. He believes that this cooperation proves that SCZONE’s recent promotion work has achieved great success. Furthermore, El-Din revealed that the overall goal of SCZONE is to establish a global clothing and textiles complex in the prosperous Qantara West industrial zone of Ismailia. The region has attracted investment from different countries across various industries, with the textile and apparel industry leading the way.

SCZONE and HiTech Apparel are both committed to expediting the project, with the goal of starting construction in the second half of this year. Groundwork for the sportswear factory is expected to be laid during this period, with operations expected to begin in the second half of 2025.

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