Egypt’s Ministerial Group for Industrial Development has approved three new manufacturing projects with a combined investment of USD 216.5 mn, according to a Trade Ministry statement. The approved projects will fall under the purview of Egypt's special freezone system, including:

  • A USD 108 mn PVC sheets and flooring manufacturing project in New Alamein City, expected to create over 2.2k jobs;
  • A USD 30 mn ready-made garments factory in the medium industries zone of New Beni Suef City, projected to generate 9k jobs;
  • A USD 78.5 mn textile manufacturing project in 10th of Ramadan City, Sharkia Governorate, set to create 4k jobs.

Export is the name of the game: Looking ahead, the government plans to scale up industrial investment to satisfy local needs and bolster exports, targeting the governorates of Beni Suef, Minya, and Fayoum. As part of this push, the Industry Ministry has launched two integrated textile cities in the Wadi Al Saririya area of Minya and the northern industrial zone in Fayoum.

Recent export-oriented projects: Chinese textile manufacturer Kingdom Holdings was set to build a USD 60 mn textile factory in Sadat City's Industrial Sadat zone last January. The project — a collaboration with Egypt’s Elsewedy Industrial Development — is part of an initiative to double Egypt’s textile and garment exports.

The approvals come as Egypt sees a wave of new investments in its textiles and garments sector. Recent developments include a golden license for a USD 58 mn linen and textile freezone project in Sadat City, Turkish firm Bony’s planned USD 100 mn textile factory in Elsewedy’s Tenth of Ramadan Industrial Zone, and Hong Kong-based Crystal Martin Group’s plans to build ready-made garments and textile factory.

IN OTHER INVESTMENT NEWS-

Fujikura eyes USD 100 mn auto parts plant: Japanese electrical equipment manufacturer Fujikura has reportedly put in a request for a 10k sqm ready-built factory in Alexandria to produce electrical components for vehicles, government sources told Al Arabiya. The company plans to invest USD 70-100 mn on the facility, which will dedicate its entire output to exports, mainly to Europe.

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