More textile exports for Egypt: Chinese textile manufacturer Kingdom Holdings has inked an agreement with Egypt’s Elsewedy Industrial Development to develop a USD 60 mn textiles factory in the Industrial Sadat zone in Sadat City, according to a statement (pdf). An agreement supported by The Egyptian Commercial Services and the General Authority for Investment and Freezones will see the factory declared a private freezone.

All eyes on exports: “This initiative aligns perfectly with the Egyptian government’s vision to double textile and garment exports by 2026, strengthening Egypt’s position as an attractive investment destination,” Elsewedy Industrial Development CEO Mohamed Al Kammah said.

The factory will kick off production in 2026, with an annual production capacity of 5k tons, and is expected to create 1.5k local jobs.

Chinese textile manufacturers have increasingly been turning to Egypt to set up shop, with the world’s largest producer of dyed fabrics and shirts Luthai Textile eyeing a USD 385 factory and Jiangsu Lianfa Textile also looking to set up a USD 500 mn integrated complex for textile and ready-made garment production.

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