The ministry stated that the project covers approximately 60 factories and service buildings across seven governorates, involving construction, development, and rehabilitation to meet international quality standards.
The project, managed by the state-owned Holding Company for
Cotton, Spinning, Weaving, and Clothes, spans nearly one million square meters.
It involves seven major subsidiaries located in El Mahalla El Kobra, Kafr El
Dawar, Shebin El Kom, Dakahlia, Damietta, Minya, and Helwan.
"The development project aims to revive this vital
sector, reclaim Egypt’s global leadership in textiles, and achieve an
unprecedented leap in production capacity," the statement said. It added
that the goal is to boost exports and attract investment into what is
considered a strategic pillar of the national economy.
While denying any sale of assets, the ministry emphasized
its commitment to collaborating with the private sector. Opportunities for
partnership include the management and operation of the newly developed plants
to maximize asset value and increase the competitiveness of Egyptian products
in global markets.
The statement highlighted significant progress in the
project's timeline. Phase One (Completed late 2024): Included the launch of
three factories at the Misr Spinning and Weaving Company in El Mahalla El Kobra,
featuring Ghazl 1—the largest of its kind globally—alongside a new power plant.
Phase Two: Witnessed the completion of the Misr Shebin El Kom
company and the experimental operation of the new Ghazl 2 factory. Final works
are underway for four additional plants in El Mahalla, including dyeing and
weaving complexes.
Phase Three: The final stage, covering the remaining regional companies, is currently seeing advanced rates of execution.