During ITMA 2019, Cotton & Textile Industries Holding of Egypt announced a major investment deal to facilitate the country’s textile industry. The investment program, facilitated by Brussels-based Werner International, will leverage the prestige of Egyptian cotton to restore Egypt’s textile industry to prominence. The investment is supported by Egypt’s President Abdul Fatah Al-Sisi and the Minister of Public Enterprises Hisham Tawfik.
The total investment of approximately $1.25 billion will be used to modernise spinning, weaving, knitting, dyeing, finishing, printing and cut-and-sew manufacturing. The investment will occur in phases and includes approximately 780,000 new spindles and 1,250 weaving machines. As a part of the investment, Egypt will construct a new state-of-the-art spinning mill for fine and extra-fine counts that will feature more than 180,000 spindles under one roof. The program will have a major impact on the competitiveness and the success of the Egyptian textile industry in the future.
