Egypt’s Mintra invests EGP6bln in producing sports shoes over 5 years

Egypt’s Mintra – Misr For Industry & Trade is set to pump investments of 6 billion Egyptian pounds ($363.5 million) within 5 years into its new sports shoes factory, Managing Director Hany Kesis said.

The new sports shoes manufacturing factory will be implemented over five years, the first phase of the project will be inaugurated in October 2019 with total investments of 1.2 billion pounds.

The company seeks to produce million pairs of sports shoes by the end of the five years, Kesis added.

He also noted that the new factory is the first Egyptian factory to export locally-made sports shoes of international quality to various markets in Europe and US, pointing out that the first phase of the project aims to produce 20,000 shoes annually and provide 10,000 jobs.

The new factory is being built on an area of 200,000 square meters in Nasr City Public Free Zone, a portion of its production will be launched in the local markets with prices varying between 150-200 pounds for each pair.

The new shoes factory will be produced with 100 percent Egyptian materials using international techniques and advanced technologies, Kesis noted.