Business sector: Implementation of 60% of textile factories targeted to open by the end of 2020

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Hisham Tawfiq, Minister of Public Business Sector, revealed the completion of the implementation of 60% of the new spinning and weaving factories, which are intended to open and operate by the end of 2022.

He explained during the celebration organized by the Egyptian Cotton Association on the International Cotton Day, that these factories will be operated with the latest machines, as work is being done to develop construction and develop old factories, as well as establishing new factories, noting that the first factory will be opened during next June.

The Minister of Public Business Sector added that the development process aims to increase the current production capacities, which range between 35-37 thousand tons, to reach 188 thousand tons using long-staple cotton, as well as increasing spinning and weaving, especially since only 25% of Egyptian cotton is spinning only, while The rest is exported as felt cotton.

He stressed that the process of exporting raw cotton wastes its value, especially since the added value in the spinning, weaving, textiles and ready-made garments stages is 10 times its value as exporting it as raw.

Tawfiq stated that the development process also includes the rehabilitation and training of workers, as the training of 180 trainers began last April, who will train 10,000 technicians during the next year.

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The article Business Sector: Implementation of 60% of the textile factories targeted to open by the end of 2020 was written in Al Borsa newspaper.