Egypt-based supplier T&C Garments is studying the possibility of implementing a new factory manufacturing fabrics with initial investments of $40-50 million during 2021, Chairman Magdi Tolba told Amwal Al Ghad.
He further added that his company is planning the new factory in order to increase the added value of its products from 55 percent to 80 percent.
The company will implement the new factory after finishing the latest production expansions.
Tolba added that his company is seeking to finish the second phase of its new factory in Obour City with total investments of $25 million by the end of 2020. The second phase includes adding 20 new production lines that increases the factory’s production by 80 percent daily.
He pointed out that the current production capacity is estimated at 30 thousand pieces of cloth per day through 15 production lines, and is targeted to reach 55 thousand pieces per day in 2021, pointing out that this is a part of the company’s plan to achieve total exports to $ 150 million during that year.
He pointed out that the company aims to increase the value of its exports during the next year to $90 million with a growth rate 29% compared to what is expected to achieve the current year.
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.