Egypt is enlisting private sector firms to manage and operate state-owned textile factories following billions of Egyptian pounds spent on development projects, Prime Minister Mostafa Madbouly said on Sunday. The announcement came during a meeting at the government headquarters in the New Administrative Capital, aimed at preserving investments and optimizing asset use. Madbouly described the textile sector as a strategic national industry and a cornerstone of the Egyptian economy.
During the Sunday meeting at the government headquarters in the New Administrative Capital, Minister of Public Business Sector Mohamed Shimi presented the executive status of the national development programme. Shimi reported that the 'Ghazl 6' project at the Misr Spinning and Weaving Company in El Mahalla El Kubra has reached 95.5% completion, while the associated dyeing plant at the same site is 90% complete.
In Kafr El-Dawar, the overall completion rate for the Misr Spinning and Weaving and Beida Dyers companies stands at about 79%, with a plan in place to finalize remaining works. In Damietta, progress at the Damietta Spinning and Weaving Company shows the spinning factory at 74% complete, the weaving preparation plant at 92%, and the dyeing plant at 82%. Meanwhile, development at the Upper Egypt Spinning and Weaving Company in Minya has recorded 71% completion.
Development works are already finished at the Shebin El-Kom Spinning and Weaving Company (Ghazl 2), which covers approximately 25,000 square metres and has a daily production capacity of around 10 tonnes of yarn. Works are also complete at the Dakahlia Spinning and Weaving Company.
Shimi provided a comprehensive briefing on production, sales, and inventory levels for the Misr Rayon and Polyester Fibre Company and the Misr Cotton Ginning and Export Company. He detailed operational results from the developed factories in El Mahalla El Kubra, including production rates, domestic sales, and export volumes.
The meeting, attended by Ahmed Shaker, Executive Managing Director of the Cotton, Spinning, Weaving and Clothing Holding Company, and Rasha Omar, Assistant Minister for Project Development, also reviewed procedures for establishing private sector partnerships to achieve state objectives.
Madbouly noted that the comprehensive development plan targets modernising factories, restructuring systems, and improving production efficiency through the latest technologies. These efforts aim to enhance product quality, boost production rates, provide sustainable employment, and increase exports.