Egypt To Invest 21 Billion Egyptian Pounds To Build The World'S Largest Textile Factory

Egypt will start building the world's largest spinning factory in Mahara, the largest city in western province, with a total investment of more than 21 billion EGP (about 9.2 billion yuan), Egyptian media reported on the 10th, local time.

In a telephone interview with Egyptian DMC television on Friday night, Taufik said that the spinning and weaving company of the Egyptian public sector is preparing to build a cotton textile holding company to build the world's largest textile mill in Mahara.

At present, the establishment contract of the company has been signed. The construction area of the factory is 62500 square meters, with an average daily output of 30 tons of yarn. The construction period of the factory is about 14 months, and the construction cost is about 780 million EGP. The total planned investment is over 21 billion, including the comprehensive development of plant and machinery, as well as management, marketing and training systems.

The project plans to integrate 23 Egyptian spinning, weaving, dyeing and processing companies into nine companies, while tripling current production capacity. The merger is expected to be completed by the summer of 2021.