Oriental Weavers Plans EGP300mn Investments in Egypt within 3 Years

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Egypt’s leading carpet manufacturer Oriental Weavers plans new investments in the coming three years worth 300 million Egyptian pounds approximately in local market, said investor relations manager Ingy El Diwany.

Speaking to Amwal Al Ghad on Sunday, El Diwany elaborated that OW’s planned investments will go for the inception of around 40 new branches within two years, seeking greater presence across the country.

The EGX-listed firm (ORWE.CA) owns around 2300 branches and stores nationwide.

Moreover, El Diwany noted that Oriental Weavers’ strategy for this year includes pumping new investments worth 80 million Egyptian pounds designed for the replacement, renewal and maintenance of OW’s existing production lines.  The company has already pumped around 14 million pounds during the first quarter of the current year, she added.