Egypt is set to inaugurate several spinning and weaving factories after being upgraded and supplied with the latest technologies by 2022, the Minister of Public Business Sector, Hisham Tawfik, said.
The first factory, set to be the world’s largest textile factory, is scheduled for completion by the end of 2021 as 65 buildings are being upgraded to accommodate the new machinery, Tawfik added.
Moreover, Tawfik further revealed that a cotton ginning factory in Fayoum has been developed and three cotton ginning factories are being developed in Sharkia, Beheira, and Gharbiya, while three others will be completed in 2021.
The ministry has adopted a development plan that includes merging 32 spinning and weaving companies into nine companies and upgrading the machinery and equipment, together with the appointment of new managing directors of these companies.
