Egypt is preparing to announce the establishment of the largest spinning and weaving factory in the world in Mahalla al-Kubra, at a cost of about LE900 million.
It is scheduled to be completed by the end of this year, after construction work was delayed as a result of the coronavirus pandemic.
According to the Holding Company for Cotton, Spinning, Weaving, and Clothes, this factory will be the largest in the world and will contribute to a major shift for this industry in Egypt. The factory marks the first step forward towards the development and modernization of the textile industry, through the government’s plan to develop it at a cost of more than LE21 billion over two years.
The plan includes great focus on increasing exports and improving the quality of production by importing the latest machinery from Italy and Switzerland.
Planned on an area of about 62,500 square meters, the factory accommodates over 182,000 yarn materials with an average production capacity of 30 tons of yarn a day, meaning the consumption of about 300,000 quintals of long cotton annually.
According to sources in the public business sector, workers are being trained on the latest technologies that will be installed in the factory, as well as in factories that will be developed soon in Cairo, Kafr al-Dawar and the Delta region.
These factories are anticipated to convert the losses of public textile companies – approximately LE three billion – annually into profits, the sources said.