Egypt is preparing to announce the establishment of the largest spinning and weaving factory in the world in Mahalla al-Kubra, at a cost of about LE900 million. It is scheduled to be completed by the end of this year, after construction work was delayed as a result of the coronavirus pandemic. According to the Holding Company for Cotton, Spinning, Weaving, and Clothes, this factory will be the largest in the world and will contribute to a major shift for this industry in Egypt. The plan includes great focus on increasing exports and improving the quality of production by importing the latest machinery from Italy and Switzerland. These factories are anticipated to convert the losses of public textile companies – approximately LE three billion – annually into profits, the sources said.

Source: Egypt Independent March 16, 2021 13:30 UTC