CAIRO – 9 July 2020: The Holding Company for Cotton, Spinning, Weaving and Garments signed a contract to establish the world's largest spinning factory at Misr Spinning and Weaving Company in El-Mahalla El-Kubra, Ministry of Public Business Sector said in a statement Thursday. According to the statement, the factory is located on an area of ​​about 62,500 square meters, and it accommodates more than 182 thousand spinners, with an average production capacity of 30 tons / day. The construction work of the factory takes about 14 months, at an estimated cost of about LE 780 million. The contract was signed by Chairman of the Board of Directors of the Holding Company for Spinning and Weaving, Ahmed Mustafa, and Vice Chairman of the Board of Gamma Construction - winner of the tender - Ayman Saad. The development plan is based on increasing specialization and reducing the frequency of the same activities in more than one company, by merging 23 spinning, weaving, dyeing and processing companies into 9 companies, and merging 9 companies for cotton ginning and trade into one company dedicated to this activity.

Source: Egypt Today July 09, 2020 16:30 UTC