A USD 100 mn textile factory coming to Tenth of Ramadan: Turkish textile heavyweight Bony will set up a USD 100 mn textile factory in Elsewedy’s Tenth of Ramadan Industria zone under an agreement it inked with ElSewedy Industrial Development, according to a statement. Bony will purchase a 120k sqm land plot in Industria that will be designated a special freezone and developed into the site of the new factory. The facility is slated to kick off operations by the end of 2026 and create around 2.5k jobs, with plans to export to European and African markets.

The agreement was finalized during a trade mission to Istanbul last June, led by Elsewedy Electric CEO Ahmed Elsewedy and backed by Egypt’s Commercial Office in Istanbul.

ICYMI- Earlier this year, Turkish press reported that Bony’s retail clothing brand Katia & Bony plans to launch sock manufacturing operations in Egypt with investments of USD 50 mn.

Turkey’s garment industry has been doubling down on Egypt as of late. Just last month, Turkey’s Şirikçioğlu inked an agreement to establish a USD 20 mn denim factory in the Qantara West Industrial Zone. Meanwhile, two undisclosed Turkish companies were reportedly eyeing acquisitions in Egypt’s spinning and weaving sector, with a combined investment of USD 30 mn. And in just the past six months, 19 Turkish apparel firms have applied to set up operations in the Suez Canal Economic Zone.

EL ARABY BREAKS GROUND ON NEW FACTORY-

El Araby Group broke ground on a USD 108 mn factory that will manufacture refrigerators and deep freezers in partnership with Japan’s Sharp, according to a statement. The facility will have a production capacity of 900k units annually.

AND- New glass factory goes live: A Japanese player inaugurated its USD 25 mn engineering glass factory, which has a production capacity of 2 mn sqm. Half of the output will be exported to markets in the Middle East and Africa.

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