Chinese ready-made garments and textile firm, Handa Enterprise is studying establishing a new factory in Egypt, said Egyptian Trade Minister Amr Nassar on Monday.
The company has already selected Egypt as the location of its factory, which will span over 250,000 square metres, to cover the Middle East and North Africa markets’ needs, Nassar added.
The Egyptian minister made these remarks on the sidelines of his meeting with a bunch of Handa’s representatives in Beijing as part of the Egyptian delegation participation in an international forum Belt and Road Initiative held in Beijing from 26th to 27th April.
“Handa’s investment plan focuses on three phases,” Nassar said.
As for the first phase, it will include the establishment of a factory for ready-made garments to employ between 1,000 and 2,000 workers. It will also include modern clothing manufacturing machines within a year, Nassar added.
“The second phase is set to include building a dyeing factory between three and four years, with a production capacity of 5,000 metric tonnes and 3,000 workers,” he added.
As for the third phase, it will focus on increasing its production capacity from 5,000 to 10,000 metric tonnes.
Handa Enterprise plans to export its products to the European, U.S., Arab, and African markets to benefit from customs exemptions for Egyptian products there, Nassar added.
