Avelon to invest $27M in export-focused textile project in East Port Said

CAIRO – 11 June 2026: Canadian textile manufacturer Avelon is set to establish a new industrial project in the East Port Said Industrial Zone, after signing an agreement with East Port Said Development Company.

The project will focus on the production of technical textiles used in the construction materials sector, according to a statement issued by the Suez Canal Economic Zone on Thursday.

The first phase will be built on an area of 24,183 square meters, with total investments estimated at $27 million, or around EGP 1.4 billion. The company plans to export the project’s full production to markets in the United States and Europe.

The investment plan also includes a second expansion phase, which is currently being studied, within the area developed by East Port Said Development Company.

Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, said the project highlights East Port Said Industrial Zone’s growing ability to attract high-value industrial investments, particularly projects focused on exports.

He added that the zone’s competitive advantages make it one of Egypt’s most promising industrial investment destinations.

Gamal El-Din also pointed to the integration between East Port Said Industrial Zone and East Port Said Port, saying this connection offers investors strong logistical benefits.

These benefits include lower transportation, shipping, and supply chain costs, as well as faster access to international markets. He said this supports the competitiveness of products manufactured in the zone and aligns with the SCZone’s strategy to localize export-oriented industries and strengthen industrial value chains.