State-owned Cotton and Textile Industries Company has signed a EGP 780 mn agreement with Misr Spinning and Weaving Company after being awarded with the tender to develop a cotton spinning factory in Mahalla Al-Kubra, according to a cabinet statement. The factory is expected to manufacture some 30 tonnes of cotton per day once it is completed in 14 months’ time. The agreement comes as part of the Public Enterprises Ministry’s plans for consolidating and developing the cotton manufacturing industry.

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