Cairo – Mubasher: The Egyptian government is implementing a plan to develop cotton spinning and weaving industries with investments of EGP 21 billion, the Minister of Public Business Sector, Hisham Tawfik, said.
This came during the minister’s participation in the celebration of the World Cotton Day via video-conference, according to a statement on Thursday.
Operation of the first developed cotton ginning factory in Fayoum has already started, he added, noting that three other developed factories in Sharkia, Beheira, and Gharbiya are expected to be complete by the end of 2020.
Three other developed cotton ginning factories are forecast to start operating in 2021, he revealed.
The plan involves merging 32 spinning and weaving companies into nine companies and upgrading the machinery and equipment which are being supplied by major international companies such as Marzoli, Benninger, and Regiany.
