Ashraf AboArafe
Ambassador Şen:
* This Factory Will Add $320 Million to Egypt’s Annual Exports
* This Investment is One of the Tangible Results of the Developing Relations between the Two Brotherly Countries, Turkey and Egypt, Which Benefit Their People
The Turkish company X Eroğlu Holding has made a new investment worth $40 million in the Qantara Gharb Industrial Zone in Ismailia.
This clothing factory, whose foundation stone has been laid, will provide job opportunities for 8,000 Egyptians when it starts operating in 2025.
The foundation laying ceremony was attended by Eng. Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone, Major General Akram Mohamed Galal, Governor of Ismailia, Salih Mutlu Shen, Turkish Ambassador to Cairo, Shahin Eroğlu, Chairman of the Board of Directors of the Turkish X Eroğlu Holding Company, and Yavuz Eroğlu, Board Member of the Company, and Mustafa Denizer, Chairman of the Turkish-Egyptian Business Council.
Ambassador Salih Mutlu Shen said during his speech at the ceremony that X Eroğlu Holding Company currently owns a ready-made garment factory in Ismailia, 8 international companies in the construction and building sector, and 4 companies in the field of retail production, employing 15,000 employees, and providing its services through 1,260 points of sale in 38 countries.
Ambassador Shen said that X Eroğlu Holding Company has approximately 1,000 stores in the retail sector worldwide and produces brands such as Collins and Loft. It has 15 Collins stores in Egypt.
He added that the company’s factory in Ismailia Governorate has been operating since 2007 until now on a closed area of 55 thousand square meters, explaining that the company is continuing to operate and produces 8 million pieces of clothing annually and provides job opportunities for 4 thousand Egyptians.
Ambassador Shen stressed in particular that this investment is one of the tangible results achieved to develop relations between the two brotherly countries, Turkey and Egypt, which benefits their peoples.
Ambassador Shen added that based on the trust and favorable investment conditions in Egypt, many Turkish companies have conducted studies related to administrative or employment aspects in Egypt, and that some companies, such as X Eroğlu Holding, are expanding their existing businesses in Egypt or have started new businesses, and some companies are also on their way to announcing new projects.
Ambassador Shen stated that the Qantara West Industrial Zone is increasingly attracting the attention of Turkish investors, announcing that during the coming period, factory buildings suitable for medium and small-sized projects for exporters will be opened. Some of these buildings are ready to be opened in 6th of October City.
Ambassador Salih Mutlu Şen explained that in addition to the two industrial zones that were previously signed and included in the planning, the establishment of a third industrial zone with the support of the relevant Egyptian authorities in another area in Egypt is on the agenda and that there is good progress in the discussions related to this matter.
Ambassador Salih Mutlu Şen stressed that Egypt and Turkey are two large and sister countries and have a common goal together with the concept of solidarity and win-win for the sake of development and that they are developing their cooperation from technology, trade and industry to education and health.
Ambassador Şen said that President Sisi stated that he appreciates the seriousness and professionalism of Turkish businessmen and investors. This is the greatest support for Turkish investments.
During his speech at the ceremony, Shahin Eroğlu, Chairman of the Board of Directors of X Eroğlu, said that the company is a social fabric whose investments are shaped around a goal and vision that puts people at the center with the concept of “people first” and is shaped around a goal and vision beyond just a value consisting of factories, machines and products, adding that they aim with this new investment of about $40 million to reach a production volume of 12 million pieces annually with 8,000 workers in Egypt in 2025.
He added that X Eroğlu Holding Company aims to reach a business volume of $320 million in 2026 through this investment, which it considers an important opportunity to develop its global vision in the clothing industry.
Engineer Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone, expressed that the West Qantara region provides the best opportunities. While Major General Akram Mohamed Galal, Governor of Ismailia, confirmed that the mutual visits between the two countries achieved these tangible results.
On the other hand, Mustafa Denizer, Chairman of the Turkish-Egyptian Business Council, said that Turkish businessmen consider themselves Egyptians.
Umit Eroglu, a member of the company’s board of directors, said that Egyptian workers and engineers contributed greatly to investing in this success.
* About!
X Eroğlu Holding Company is a Turkish company that was established in 1983 and started its activities in Egypt in 2007.
It currently employs 4,000 Egyptians and employs 2,000 people in Turkey. Its factory in Egypt operates on an area of 55,000 square meters, and its factory in Turkey operates on an area of 30,000 square meters.
With this factory, whose foundation stone has been laid, the company will reach an annual production of 24 million pieces in Egypt in 2026 and 2027.
