RIYADH: The Egyptian Cotton & Textile Industries Holding Co. has signed contracts with Orascom Construction to build seven new factories at an estimated construction cost of 2.6 billion Egyptian pounds ($165.9 million), Asharq Business reported.
Under the contracts, three new factories will be established in the Misr Spinning and Weaving Company in El-Mahalla El-Kubra City, on an area of about 102,000 square meters. They include a textile factory, another for textile preparations and recycling, and a third for dyeing, to produce cotton and terry fabrics.
The other four factories will be established in the Damietta for Spinning & Weaving Company to produce jeans fabrics.
Cotton, spinning and weaving companies developments are being implemented in parallel with developments in the existing factories, said Hisham Tawfik, minister of the Egyptian public enterprise sector, the business news site reported.
Egypt establishes 7 new spinning and weaving factories
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Updated 29 June 2021
Egypt establishes 7 new spinning and weaving factories
- Under the contracts, three new factories will be established in the Misr Spinning and Weaving Company
