Egypt to open world’s largest spinning factory by 2Q 2022, with EGP 7bn investment
Hisham Tawfik, Minister of the Public Enterprises Sector, has inspected the executive situation of the project to develop the factories of the Holding Company for Cotton, Spinning, Weaving and Garments, which involves the construction of new factories and developing existing ones.
It comes during the minister’s meeting with the contracting company responsible for implementing the factory’s construction of the weaving and spinning factories affiliated to eight major companies resulting from the merger of 23 spinning and weaving companies.
Tawfik stressed the need to complete all construction works according to the specified schedule, which includes about 65 buildings from construction to restoration, at an estimated cost of about EGP 7bn, in preparation installing modern machines imported from major international companies.
The review also covered the current situation of the construction and development of factories in Misr Spinning and Weaving Company in Mahalla al-Kubra. The development project includes establishing a spinning factory (1), to be the largest in the world, on an area of 62,500 sqm, implemented by Gama Construction Company. The construction is expected to be completed by the beginning of the second half of 2022, with a contractual value of EGP 780m.
The review also included the development of a spinning factory (4) in the Misr Spinning and Weaving Company in Mahalla al-Kubra, on an area of 24,600 sqm, with a contractual value of EGP 251m, implemented by the Engineering Company for Integrated Projects (ECIP), and construction is expected to be completed in the second quarter (2Q) of 2022, on an area of 17,700 sqm, and the implementation is undertaken by the Arab Contractors Company, with a contractual value of EGP 216m.
As for the group of new factories for weaving, preparations and dyeing at the Misr Spinning and Weaving Company in Mahalla al-Kubra, it is implemented on a total area of 101,900 sqm and is undertaken by Orascom Construction, with a contractual value of EGP 1.1bn.
As for the complex of factories of the Misr Sabbagh Al-Bayda Company in Kafr El-Dawwar, it includes 6 factories: spinning, weaving, textile preparations, dyeing and finishing, detailing, and twirling on an area of about 175,000 sqm. The National Company for General Contracting and Supplies will carry out the construction at a value of EGP 2.3bn.
The review also addressed the executive situation of the industrial group of the Damietta Spinning and Weaving Company, as four new factories for spinning, weaving, preparation and dyeing will be established on a total area of about 103,000sqm with a value of EGP 1.5bn, and implemented by Orascom Construction.