Egypt to inaugurate 7 textile factories worth LE31B in 2024

Image from Egypttoday

The Ministry of Public Enterprise plans to inaugurate seven textile factories in 2024. Those are two spinning factories and two textile mills in Mahala, a plant in Kafr El Dawar, another in Helwan, and a jeans factory in Damietta.

The total cost of the factories is LE31 billion, including a €600-million loan that is being used in the purchase of machinery. A spinning factory, whose daily capacity is 15 tons, and a textile mill began pilot operation on June 3 in Mahala.

The production of the factories will be promoted under brand names Nit and Mehalla. For the spinning factories to operate in full capacity without resorting to importation, 600,000 feddans must be cultivated with short staple cotton every year. That is because they need 70,000 tons of short staple cotton in addition to 62,000 tons of long staple cotton already sufficiently cultivated in Egypt. 

The private sector is welcome to lease production lines by either paying rent or delivering a profit share. One of the plants will be a textile dyeing factory, which will be operated by the private sector by 60 percent.  

Laws & Regulations
• Egypt’s tax-free car import initiative generates $... 03-20
• Resource curse: more Africa countries could benefi... 01-16
• Morocco Announces Cigarette Price Hike for 2024 as... 12-27
• Nigeria wins appeal in landmark ruling against Pro... 11-16
• Togo, Benin slash telecommunication charges 10-24
• Egypt adopts new strategy to increase industry’s c... 10-05

Trade Shows
• African Energy Week (AEW) 2024: Date Set 10-12
• Cityscape Egypt 2023 expo kicks off on Tuesday wit... 09-19
• Cotonou to host first Auto Moto Show on October 12... 06-27
• Ministerial Forum a top feature at Big 5 Construct... 05-17
• THE BUILD&DECOR EXPO 05-06
• SIAM: Moroccan, International Companies Showcase I... 05-03