Egypt’s T&C eyes offering up to 25% stake to foreign investment funds

Egypt’s T&C eyes offering up to 25% stake to foreign investment funds

Egyptian apparel manufacturing firm T&C Garments is targeting to offer a 20% to 25% stake to international investment funds within the second quarter (Q2) of 2024 after finalizing its expansion plans, the company’s Chairman Magdy Tolba told Al Arabiya Business.

The company is currently carrying out development plans for all its assets, along with expansion plans to increase its production lines and set up a solar power plant to save 50% of the power needed for production which could reach around 2.5 megawatts (MW), Tolba noted.

This is in addition to recycling water to be reused in accordance with international environmental standards, he added.

Tolba said that the ongoing developments aim to promote the firm’s position globally as a key apparel manufacturing company and to set the stage for negotiations with international investment funds.

He also highlighted that the company’s current investments amount to around $50 million, while investments to be carried out within the coming few months would reach roughly $7.6 million.

These investments are set to bolster the company’s production capacity by at least 25%, he pointed out.

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