Egypt's state textile holding company targets EGP 18.3bn revenue in 2026/27 budget

The general assembly of Egypt's state-owned Cotton, Spinning, Weaving and Clothing Holding Company has approved the 2026/2027 budget for the holding company and its subsidiaries, targeting consolidated activity revenues of about EGP 18.3 billion, Al Mal News reported on Wednesday 30 September. The target represents growth of roughly 190% over actual revenues in the 2024/2025 financial year.

The meeting was chaired by Dr. Hussein Issa, Deputy Prime Minister for Economic Affairs, and attended by members of the general assembly, the company's board and representatives of the Central Auditing Organisation and the Ministry of Finance, according to Al Mal and Youlyou.

Dr. Ahmed Shaker, the holding company's executive managing director, presented progress on the national project to develop the spinning and weaving industry, which covers seven subsidiary companies across several governorates. The review covered completion rates for the project's second and third phases, following the completion and start-up of the first phase.

Shaker said reaching the budget targets depends on making the most of production capacity, improving operating efficiency, raising product quality and expanding both domestic and export sales. The strategy aims to restore the group's position in textile value chains, using Egyptian cotton and modern industrial technology, Al Mal reported.

The company is working to open new export markets, including Pakistan, India, Switzerland, Turkey, the United States, Greece and Saudi Arabia, the report said.

What it means for Egyptian exporters

A revenue target nearly three times the 2024/25 level shows the government expects the rebuilt state mills to run at much higher volumes. For private garment and home-textile exporters, more locally spun yarn and woven fabric, especially from Egyptian cotton, could shorten lead times and support rules-of-origin claims with EU and US buyers. Exporters should watch whether the new capacity is priced competitively against imported yarn and fabric.