Egyptian carpet giant Oriental Weavers sets 5-year expansion plan worth $83 mln

Egyptian carpet maker Oriental Weavers Company is preparing for a five-year expansion scheme to boost production capacity across all product lines. The plan will be at cost of $83 million, the company said in a bourse filling.

As part of its expansion plan, Oriental Weavers plans to introduce new production lines in non-woven rugs and carpets divisions in the next five years.

The company also said it is set to finance its expansion plan through surplus of liquidity and medium-term loans.