Cairo: India's Prestige Denim Mills is set to make a significant investment of $20 million in a new denim fabric production facility in Egypt's West Qantara Industrial Zone. This venture marks the first Indian investment in the industrial area, as confirmed by the Suez Canal Economic Zone (SCZONE).

According to State Information Service Egypt, the project will occupy a 100,000-square-metre site and is anticipated to generate approximately 1,000 direct jobs. The facility aims to produce up to 20 million metres of denim fabric annually. The operations will include weaving, dyeing, and finishing, with 70 percent of the output intended for export markets, while the remaining supply will cater to domestic needs.

The investment agreement was formalized at the SCZONE headquarters located in Egypt's New Capital. The signing ceremony was attended by SCZONE Chairman Waleid Gamal El-Dien, who noted the project's significance as the first Indian investment within the West Qantara Industrial Zone. Gamal El-Dien highlighted that the project leverages the success of Indian investments across the Suez Canal Economic Zone.

Gamal El-Dien further remarked that ongoing infrastructure development and industrial expansion efforts have been instrumental in attracting textile and garment manufacturers to the zone. According to SCZONE, total investments in textile and ready-made garment projects in West Qantara have now exceeded $1 billion.