Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, witnessed the signing of a contract to establish an integrated spinning and textile industrial complex in New October City, with initial investments estimated at $350m. The agreement was signed between Elsewedy Industrial Development and Crystal International Group, one of the world’s leading textile manufacturers. The industrial complex will feature an integrated production system encompassing the spinning of natural and synthetic fibres, yarn production, advanced weaving, textile processing, finishing, and dyeing. Representatives of Crystal International Group said Egypt was selected due to its advanced industrial infrastructure, availability of skilled labour, and strategic geographic location, which facilitates access to European, American, and Asian markets. For his part, Mohamed AlKammah said the project represents a major strategic addition to Egypt’s textile industry and reflects the confidence of leading global groups in the Egyptian investment climate.

Source: Daily News Egypt January 19, 2026 15:40 UTC