Eng. Hatem Saleh, Egypt’s Minister of Industry, has announced that Eroğlu Group, a Turkish holding company operates in textile, will intend to construct a new factory in Egypt for producing shirts at total investments of $ 500 million by using Egypt’s long-staple cotton.
The new factory needs 30.000 tons of long-staple cotton annually. This contributes to utilizing the Egyptian cotton, Saleh elaborated; adding that the factory will provide 1500 job opportunities. He referred that they are consulting now to choose the new factory from three places, Ismailia, 10th of Ramadan City or the industrial Badr City.
Following his meeting with Noureddine Eroğlu, Chairman of Eroğlu Group, Saleh said the group has two factories in Egypt for producing jeans, in Demiatte and Ismailia, at $ 250 million investments and provide 4500 direct job opportunities. These opportunities are expected to reach 5500 ones at the end of the year, Saleh said; adding that the productions of the two factories are allocated for export.
The minister discussed with the Turkish Group the possibility of making use of its experience in the constructions field. The Turkish Group has considerable experience in that field; consequently it can assist in constructing new areas by the industrial developer system, over and above constructing the new halls of the conventions which will be implemented by PPP system in 5 new cities.
On his part, the Turkish Group’s Chairman said the group is seeking to invest in the Egyptian market, which is considered as one of the promising markets in the Middle East and Africa, and can take different industrial sectors.
He said further that the company exports its products for many countries; about 80% of its products are being exported to the most famous brands.