Textiles and garment manufacturer Interloop is investing $35.2 million in a new manufacturing facility in Egypt’s Suez Canal Economic Zone.

The 60,000 square-metre garments plant will be fully export-oriented and is expected to create over 1,000 direct jobs.

Located on the Suez Canal, the new facility will help Interloop achieve shorter lead times and competitive costs, while Egypt’s trade agreements with the US, EU and regional blocs support diversified sourcing strategies for its partners, it said.

Navid Fazil, CEO of Interloop Limited, added: “This Egypt investment is a strategic next step in building a multi-origin, tech-enabled hub for our customers.”

Pakistan-headquartered Interloop also has facilities in China and Sri Lanka.

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