Carpet maker Oriental Weavers is planning to build a USD 50 mn factory in Tenth of Ramadan over the next three years after offloading its Chinese unit, Al Mal reports.

CORRECTION- This story was amended on 15 August to correct the investment value of Oriental Weavers' new factory. Representatives from the company confirmed to Enterprise that it is investing USD 50 mn, not USD 200 mn. 

Other things we’re keeping an eye on this morning:

  • Egypt is planning to increase the capacity of its electricity link with Sudan from 80 MW to 300 MW in December, according to a source at the Electricity Ministry. (Youm7)
  • The Tourism Ministry has hired advertising agency McCann to manage a new promotional campaign. (Statement)
  • A microbus crash in Minya killed at least nine people and injured 18 others yesterday, after a tire blowout led the vehicle to overturn on a highway. (Ahram Gate)
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