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Phase 1 scheduled to start operations in H1 2026
Chinese textile company Zhejiang Hengsheng Dyeing and Finishing Company broke ground on Sunday for its new $70 million factory in Egypt’s Suez Canal Economic Zone (SCZONE).
The factory, located in the Qantara West industrial zone, will be built in two phases of 100,000 square metres (sqm) each and is expected to create about 1,500 direct jobs, according to an SCZONE press statement.
Phase 1 is scheduled to start operations in the first half of 2026, the statement noted, adding that the Chinese company is targeting annual sales of $300 million from the factory.
As one of the largest textile manufacturing, dyeing and processing companies in China, Zhejiang Hengsheng Dyeing & Finishing Co is a contract manufacturer for international brands such as Ikea, Nike, Adidas and Armani. |
