The Egypt holding company for cotton, weaving, spinning recently signed an agreement to set up the new Spinning Factory at Misr Spinning and Weaving Company in Mahalla. With more than 182,000 spinning wheels and an average production capacity of 30 tonnes per day, the factory will be spread on 62,500 square meters.
The contract was signed between the holding company’s chairman and the deputy chairman of Gama Construction.
It comes as part of the state’s comprehensive development plan for cotton, spinning, and weaving companies under the ministry of the public business sector.
This plan will take around 30 months to implement at a cost exceeding LE21 billion and includes a total modernization of construction and machinery.
The development plan involves increasing specialization and removing redundant activities in more than one company by merging 23 spinning, weaving, dyeing, and processing companies into nine, and merging nine cotton trade and ginning companies into a single entity, according to a report in an Egyptian English-language daily.
Those companies set to be merged will continue operating as usual until the completion of the merger, which is expected by summer next year.
