In a major development for Egypt’s industrial sector, the foundation stone for a new Turkish factory in the West Qantara Industrial Zone was laid on Wednesday. The success and trust in Egypt’s favourable investment environment have encouraged numerous Turkish companies, including X Eroğlu, to expand their operations and increase investments, the Turkish envoy said. West Qantara has become an increasingly attractive destination for Turkish investors, according to Ambassador Şen. Plans for a third industrial zone, developed in partnership with Egyptian authorities concerned, are also progressing smoothly. Board Chairman of X Eroğlu, Şahin Eroğlu, who attended the event, announced the company’s ambitious new investment of approximately $40 million.