Sources in the spinning and weaving sector revealed that this year will witness the first production of spinning and weaving factories, especially in light of the completion of a 540 million euro financing loan for spinning machines, which will be imported from Switzerland, Italy, and Germany.
The sources added to "The Seventh Day", a news website, that construction is being followed up on a daily basis, in the factories of Mahalla, Kafr El-Dawwar, and Damietta, to complete them according to the specified timetables for their completion and to start installing new machines.
The sources indicated that it is expected to expand the training of workers selected for the new factories in the coming period.
They pointed out that the coming days will witness great leaps to complete insulation, textile, and clothing projects, using local and international expertise.
The Ministry of Public Enterprise Sector announced that the new brand for Egyptian cotton products will bear the name "Nate", a name derived from the Egyptian pharaonic history.
On the 27th of last December, Dr. Ahmed Mostafa, Head of the Holding Company for Spinning and Weaving, one of the companies of the Ministry of Public Enterprise Sector, confirmed that the state is about to complete 7 new gins in the coming period, with investments amounting to EGP 21 billion.
He explained that it is scheduled to complete the development of 3 other gins during this year, bringing the total of what is being developed in the ginning sector to 7 gins distributed geographically in terms of the concentration of cotton cultivation areas.
Dr. Ahmed Mostafa added that the holding company seeks to restore Egyptian cotton to its global reputation, and the new gins purify the impurities with a percentage of 90%."
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