Spinning
Egyptian Minister of the Public Business Sector Eng. Mohamed Shimi revealed plans to develop the spinning and weaving industry.
In July 2020, the Holding Company for Cotton, Spinning, Weaving and Garments signed a contract to establish the world's largest spinning factory at Misr Spinning and Weaving Company in El-Mahalla El-Kubra.
Three new cotton varieties were developed and registered, while Giza 98 variety is underway, bringing the productivity from 8 to 10 quintals per feddan.
The spinning and textiles sector rose in 2021 by about 20 percent, recording $916 million, compared to $763 million in 2020, and the “home furnishings” sector achieved an increase of 35 percent to $651 million, compared to $482 million in 2020.
According to the statement, the factory is located on an area of about 62,500 square meters, and it accommodates more than 182 thousand spinners, with an average production capacity of 30 tons / day.
A wrap-up of the most prominent business news of the day.
The government has a five-year plan to develop spinning and weaving companies in northern Egypt, Head of the Cotton and Textile Industries Holding Co. said.
Sisi held a meeting on Monday with Prime Minister, Trade and Industry Minister , Public Business Sector Minister and Agriculture Minister .
