Egypt signs LE 10.5B contracts to supply equipment to spinning, weaving companies
Egypts Minister of Public Enterprise Sector Hesham Tawfik said that contracts will be signed for the supply of new equipment to spinning and weaving companies next week at a cost of LE 10.5 billion. The minister added in a TV program that this is considered the first development of the machines, as most of them have…
Egytex News Desk
Source: egypttoday.com
Tawfik revealed that the development plan of the sector costs LE 21 billion, clarifying that new machines will arrive to Egypt during 2020, followed by another shipment 10 months later.
He pointed out that the textile industry is expected to return to its full strength in two and a half years, stressing the reorganization of 23 companies in the sector, to provide three centers for export.
Source: egypttoday.com
From the Egytex news archive, first published on 18 April 2019. Figures and names are as reported at the time.
