Cairo: Chairman of the General Authority for the Suez Canal Economic Zone Walid Gamal El-Din signed a contract for the establishment of the 'Interloop Group for Ready-Made Garments' at the Authority's headquarters in the New Administrative Capital. This Pakistani company specializes in manufacturing socks, denim, and sportswear. The project spans an area of 60,000 square meters and involves investments totaling 35.2 million US dollars, equivalent to 1.76 billion Egyptian pounds.

According to State Information Service Egypt, the project is set to create over 1,000 direct job opportunities and will allocate 100% of its production for export to foreign markets. This move underscores the economic zone's role as a competitive manufacturing and export hub in the garment sector. The contract was signed by Syed Fasiq Din Bibani, the company representative, in the presence of several Authority leaders.

Mr. Walid Gamal El-Din emphasized that the 'Interloop' project represents the first Pakistani industrial investment within the Suez Canal Economic Zone, marking a significant step towards enhancing industrial cooperation between Egypt and Pakistan. He noted that the project strengthens the Qantara West area's status as a promising industrial destination, thanks to its capacity to attract investments in ready-made garments and accessories.

The Chairman added that the project's commitment to exporting its entire production reflects foreign investors' trust in the economic zone's investment climate. This initiative is expected to boost Egyptian exports and support global supply chains in the ready-made clothing industry.

He also highlighted that this contract increases the total number of projects in the Qantara West industrial zone to 39, with cumulative investments reaching approximately 1.0435 billion US dollars and creating nearly 55,700 direct jobs over an area of 2,442,400 square meters.

'Interloop Group,' a global leader in the manufacturing sector since 1992, operates in six countries, including Pakistan, the USA, and the Netherlands. The company's investment in Egypt seeks to leverage the strategic advantages of the Suez Canal Economic Zone, providing access to African, European, and Middle Eastern markets.