Wagdy Abd Alaziz
Engineer Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone, Major General Akram Mohamed Galal, Governor of Ismailia, Saleh Mutlu Shen, Turkish Ambassador to Cairo, Shahin Eroğlu, Chairman of the Board of Directors of the Turkish X Eroğlu Holding Company, and member of the company’s Board of Directors Yavuz Eroğlu, and Chairman of the Turkish-Egyptian Business Council Mustafa Denizer participated in the foundation stone laying ceremony for the Turkish X Eroğlu Holding Company.
Ambassador Saleh Mutlu Shen said during his speech at the ceremony that X Eroğlu Holding Company currently owns a ready-made clothing factory in Ismailia, 8 international companies in the construction sector, and 4 companies in the field of retail sales production, employing 15,000 employees, and providing its services through 1,260 points of sale in 38 countries around the world.
Ambassador Shen said that X Eroğlu Holding has nearly 1,000 stores worldwide in the retail sector and produces brands such as Collins and Loft. It has 15 Collins stores in Egypt.
Ambassador Shen 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 continues to operate and produces 8 million pieces of clothing annually and provides job opportunities for 4 thousand Egyptians.
Ambassador Shen pointed out that these investment prospects are one of the tangible results that have been achieved to develop relations between the two brotherly countries, Turkey and Egypt, which benefit their peoples.
Ambassador Shen noted 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 rather have started implementing new businesses, and some other companies are 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 projects for exporters will be opened, and some of these buildings are ready to open in 6th of October City.
Ambassador Shen explained that a third industrial zone will be added to the two industrial zones that were previously signed, and their inclusion in future planning, and he continued by saying that the establishment of a third industrial zone with the support of the relevant Egyptian authorities in another region in Egypt, which is on the agenda, greatly expands investment horizons, as there is good progress in the discussions related to this matter.
Ambassador Shen stressed that Egypt and Turkey are two large and sister countries and have a common goal that unites them in the concept of solidarity and win-win for the sake of development, and that they are developing their cooperation in many technological, commercial and industrial fields in addition to education and health.
Ambassador Shen 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 formed around a goal and vision that puts people first with the concept of “people first” and revolves around a goal and vision beyond just a material 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 area provides the best opportunities.
While Major General Akram Mohamed Galal, Governor of Ismailia, confirmed that the mutual visits between the two countries have 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 Eroğlu, a member of the company’s board of directors, said that Egyptian workers and engineers contributed significantly to investing in this success.
The Turkish holding company X Eroğlu is a 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 covers an area of 55,000 square meters, and its factory in Turkey operates on an area of 30,000 square meters.
The factory, whose foundation stone was laid today, aspires for its company’s annual production to reach 24 million pieces in Egypt in 2026 and 2027.