Egypt signs a deal to build world-largest spinning plant with total cost of $48.9 mln

State-owned Cotton & Textile Industries Holding Co has signed a deal with Gama construction to build largest textile factory in the world with total cost of 780 million Egyptian pounds ($48.9 mln).

The new plant, set to be the world’s largest spinning factory is located on an area of 62500 square metres accommodating  more than 182 thousand spinners, with an average production capacity of 30 tonnes per day.

The construction works of the factory will take an average of 14 months.

The contract was signed by Chairman of the Board of Directors of the Holding Company for Spinning and Weaving, Ahmed Mustafa, and Vice Chairman of the Board of Gamma Construction – winner of the tender – Ayman Saad.

Earlier, Cotton & Textile Industries Holding Co has kicked off a EUR 1 bn government-funded restructuring program under the supervision of US-based Werner International.

“The plan to develop cotton and spinning and weaving companies takes about two and a half years at a cost that exceeds  21 billion pounds, and includes a complete modernization in construction and machinery – which was contracted to supply from major international companies – and a comprehensive development in management, marketing and training systems,” the ministry added.

The program includes the modernization of spinning, weaving, knitting, dyeing, finishing, printing and confection, based on a product line definition which brings forth added value to Egyptian cotton, from cotton farming to ready-made goods with world class level in terms of quality and efficiency — aiming to support Egypt Private Sector upstream manufacturers competitiveness in the world markets.

It also includes around 780 000 new spindles and 1250 new looms, dyeing, printing and finishing machinery and state-of-the-art cutting and sewing equipment

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