Cairo: Walid Gamal el Din, Chairman of the Suez Canal Economic Zone Authority (SCZone), has signed a pivotal contract for establishing the Turkish recycling project "HIPER Plastic" in the Qantara West Industrial Zone, marking a significant step in eco-friendly industrial development.

According to State Information Service Egypt, the project, which will be realized in two phases across 100,000 square meters, involves an investment of 40 million dollars (approximately 2 billion Egyptian pounds). It is expected to create 700 direct job opportunities. The Turkish side of the agreement was represented by Muhlis €š¬¡aglar, the company's chairman. This project is notable for its zero-emission operations, incorporating advanced recycling technologies for materials such as polyethylene terephthalate (PET), polypropylene (DOTP), and high-density polyethylene (HDPE).

On the occasion of the signing, SCZone Chairman Walid Gamal el Din emphasized the authority's commitment to attracting comprehensive industrial ventures to the Qantara West zone, aligning with its strategic vision for eco-sustainability. He highlighted the zone's development with world-class infrastructure, positioning it as a regional and global hub, particularly for the textile and ready-made garment industry.

The chairman also noted the synergy between industrial zones and ports under the authority's jurisdiction, which is critical to facilitating global market access. The Qantara West industrial zone has recently seen the inauguration of various factories and infrastructure projects, attracting 41 projects with a combined investment of 1.0935 billion dollars, providing 56,565 direct job opportunities across 2,572,400 square meters. He stressed the ongoing objective to draw further investments, with a particular focus on Turkish partnerships, to this burgeoning region.