T & C pumps $20mln new investments to increase its exports

Egypt-based supplier T&C Garments seeks pump new investments of $20 million to add up 25 production lines to its plant by the beginning of 2020, Chairman Magdi Tolba told Amwal Al Ghad.

T & C Garments is a Joint Venture company specialized in manufacturing denim bottoms for the export market. It is joint denim manufacturing facility between CCC and Turkish Textiles manufacturer Taypa Textile.

He further noted that the new expansions would enhance the company’s manufacturing and export capabilities, thus it will the production capacity to 50,000 pieces of clothing daily up from 30,000 pieces.

The company seeks to increase the export volume to $150 million annual by the end of the next year.

He continued that he is currently negotiating with one of the European financial institutions to offer about 30% of the value of new investments adding that the company using self-financing has completed 50% of the expansions during the recent period.

The new expansions will contribute to the creation of more than 4,000 job opportunities, he added.