Egypt is enlisting private sector firms to manage and operate state-owned textile factories following the expenditure of billions of Egyptian pounds on development projects, Prime Minister Mostafa Madbouly said on Sunday.
Madbouly stated during a meeting at the government headquarters in the New Administrative Capital that the move aims to preserve injected investments, govern management and operational processes, and ensure the optimal use of state assets. He described the textile sector as a “strategic national industry” and a cornerstone of the Egyptian economy.
Minister of Public Business Sector Mohamed Shimi presented the executive status of the national development programme, reporting that the “Ghazl 6” project at the Misr Spinning and Weaving Company in El Mahalla El Kubra has reached a completion rate of 95.5%. The associated dyeing plant at the same site is 90% complete, Shimi added.
At the Misr Spinning and Weaving and Beida Dyers in Kafr El-Dawar, the overall completion rate has reached approximately 79%, the minister said, noting that a plan is in place to finalise all remaining works.
In Damietta, Shimi detailed progress at the Damietta Spinning and Weaving Company, where the spinning factory is 74% complete, the weaving preparation plant is at 92%, and the dyeing plant has reached 82%. Meanwhile, the development of the Upper Egypt Spinning and Weaving Company in Minya has recorded a 71% completion rate.
Development works have already been finished at the Shebin El-Kom Spinning and Weaving Company (Ghazl 2), which spans approximately 25,000 square metres with a daily production capacity of around 10 tonnes of yarn. Works are also complete at the Dakahlia Spinning and Weaving Company.
Shimi also provided a comprehensive briefing on production, sales, and inventory levels for the Misr Rayon and Polyester Fibre Company and the Misr Cotton Ginning and Export Company. He detailed the operational results of developed factories in El Mahalla El Kubra, focusing on production rates, domestic sales, and export volumes.
The meeting, which was attended by Ahmed Shaker, Executive Managing Director of the Cotton, Spinning, Weaving and Clothing Holding Company, and Rasha Omar, Assistant Minister for Project Development, also reviewed current procedures for establishing private sector partnerships for management and operation to achieve state objectives.
Madbouly noted that the comprehensive development plan targets modernising factories, restructuring systems, and improving production efficiency through the application of the latest technologies. These efforts are intended to enhance product quality, increase production rates, provide sustainable employment, and grow the volume of exports.
