
Egypt launches 2 integrated textile cities in Minya, Fayoum with $3.5bln investment
Arab Finance: The Egyptian Ministry of Industry and Transport has announced the launch of two integrated textile cities in Wadi Al-Saririya, Minya, and North Fayoum, as per a statement.
The cities will be established in partnership with the private sector through the industrial developer system, covering a total area of 11 million square meters, with each city occupying 5.5 million square meters.
Minister of Industry and Transport Kamel El-Wazir stated that the Wadi Al-Saririya city in Minya will be the first textile city in Upper Egypt, with an investment of EGP 12 billion.
The second city in North Fayoum will cost EGP 15 billion.
These cities will be designed to serve as models for industrial cities specializing in the textile industry, including service and logistics zones.
Minya and Fayoum were chosen due to their favorable investment conditions, including infrastructure improvements such as roads, dry and sea ports, and railways, which have been developed since 2014, the statement noted.
The targeted investment for these cities is expected to reach up to $3.5 billion, with a focus on increasing Egypt's textile exports.
Current textile exports are valued at $2.8 billion, but with the new projects, the goal is to raise this figure to $11.5 billion annually by 2030.
The two cities will create a total of 400,000 direct and indirect job opportunities, benefiting both local and foreign investments.
The cities will also feature specialized facilities for all stages of textile manufacturing, including spinning, weaving, dyeing, and ready-made garments. They will adhere to international sustainability and environmental standards, aiming to improve the global competitiveness of Egyptian products.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Zawya
5 hours ago
- Zawya
Egyptian Resorts witnesses $778,537 block trading deal
Arab Finance: Egyptian Resorts Company saw a block trading deal valued at EGP 38.753 million, the Egyptian Exchange (EGX) announced on June 11 th. The EGX highlighted that the transaction was implemented on 4.559 million shares. In 2024, Egyptian Resorts turned profitable at EGP 186.751 million, against consolidated net losses attributable to the parent company of EGP 81.586 million in 2023. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (


Zawya
6 hours ago
- Zawya
Egypt: Gadwa for industrial development's EGM approves capital reduction
Arab Finance: Gadwa for Industrial Development's extraordinary general meeting (EGM) agreed to cut the issued capital to EGP 1.962 billion from EGP 2.004 billion, according to a bourse disclosure. The company will reduce its capital by EGP 41.346 million by writing off 21.761 million treasury shares at a nominal value of EGP 1.90 per share, based on 2024 financial statements. In 2024, the EGX-listed firm's consolidated net profits attributable to the parent company hiked by 44.437% to EGP 1.444 billion in 2024 from EGP 1 billion in 2023. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (


Zawya
6 hours ago
- Zawya
Egypt: EGX shows varied performance on Wednesday
Arab Finance: The Egyptian Exchange (EGX) showed a mixed performance on Wednesday, with the EGX30 index rising by 0.09% to 32,935.19 points. The EGX70 index and the EGX100 index closed the session higher by 0.18% at 9,864.92 points and by 0.12% at 13,379.52 points, respectively. On the other hand, the Sharia-compliant index, EGX33 Shariah index, fell by 0.04% to 3,434.01 points. The turnover stood at EGP 5.363 billion through the exchange of 1.724 billion shares in 127,510 transactions, while the market cap hit EGP 2.332 trillion. Individuals accounted for 81.21% of the total trading, while the institutions equaled 18.78%. Arab and foreign traders represented 4.71% and 3.12% of the trading transactions, respectively, whereas Egyptian investors controlled 92.16%. The foreign investors were buyers with EGP 143.121 million. Egyptian and Arab traders were sellers with EGP 98.137 million and EGP 44.983 million, respectively. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (