Chines textile giant plans $500m complex in Egypt
China’s Jiangsu Lianfa Textile, one of the largest companies in the textile and ready-made garments, is considering a $500 million to establish an integrated spinning and weaving complex in Egypt. The CEO of the General Authority for Investment and Free Zones (GAFI), Hossam Heiba, announced this potential investment following a meeting with Xian Jun Kong, Chairman of Jiangsu Lianfa.
The planned complex will span 350,000 square metres and feature production lines for spinning, weaving, dyeing of textiles, and ready-made garments. Notably, 90 per cent of the factory’s production will be exported, capitalising on Egypt’s competitive advantages in the global market.
The Jiangsu Lianfa Chairman highlighted the growing interest of the Chinese textile community in Egypt, citing its strategic location near major markets, numerous trade agreements, and supportive export-oriented investment systems. He also emphasised the company’s commitment to sustainable practices in energy and water consumption.
Meanwhile, Heiba outlined the diverse investment opportunities and available land in Egypt, affirming the country’s readiness to meet all investor needs, including resources, labour, and international agreements that facilitate investment, export, and trade.
Attribution: Cabinet statement
