Turkish yarn giant Ulusoy Tekstil San. Tic. A.Ş has signed an $18 million agreement with Egypt’s Suez Canal Economic Zone (SCZONE) to establish a state-of-the-art yarn and textile production facility in West Qantara. The deal, signed by Mohamed Ulusoy, legal representative of Ulusoy, and Waleid Gamal El-Din, Chairperson of SCZONE, marks another milestone in SCZONE’s drive to attract high-quality foreign investment into Egypt’s fast-evolving industrial ecosystem.
The factory will span 35,000 square metres, with the investment entirely self-financed by Ulusoy, showcasing deep confidence in Egypt’s industrial and economic stability. According to the SCZONE statement, the facility is projected to generate 855 direct job opportunities in the textile and ready-made garment sector.
Speaking at the signing ceremony, Waleid Gamal El-Din highlighted the strategic importance of the West Qantara Industrial Zone, emphasizing its integrated supply chain, cutting-edge infrastructure, and logistical connectivity to SCZONE ports. “This is not just an investment; it’s a testament to the trust global manufacturers have in Egypt’s stable environment and progressive economic policies,” Gamal El-Din noted.
He further underscored that this new partnership pushes the total number of agreements in the West Qantara zone to 24, with overall investments reaching $661.5 million and direct employment now topping 34,455 jobs.
Ulusoy’s upcoming facility will specialize in a broad spectrum of yarn products—fibre yarns, carpet yarns, tricot yarns, household crochet yarns, and hand-knitting yarns—complemented by an in-house ready-made garment production line. The company intends to export 80% of its production, leveraging Egypt’s preferential trade agreements with Europe, Africa, and the Middle East. The remaining 20% will serve the growing domestic market.
Industry analyst Dr. Hassan El Shafei, a textile economist based in Cairo, remarked: “Egypt’s labor force, low operating costs, and streamlined customs through SCZONE give it a distinct edge as a manufacturing base for companies seeking to diversify beyond Asia.”
Founded in 1986, Ulusoy Tekstil is recognized as one of Europe’s largest yarn producers, with fully integrated production complexes in Adana and Osmaniye in Turkey, covering a combined 270,000 sqm and producing over 1,000 tons of yarn monthly. The West Qantara facility marks Ulusoy’s first major foray into North Africa, signaling rising Turkish interest in Egypt’s industrial potential.
It is to be noted that Egypt presents a unique combination of market access, logistics, and skilled labor., which may serve as a launchpad into the African and Arab markets.
