The world’s largest spinning factory will open in Egypt’s al Malhalla al-Kobra on September 2021, Minister of Public Business Sector Hesham Tawfik announced in an interview with the “Belwarqa we al-Qalam” TV show. He added that the government is developing 23 spinning and weaving companies alongside three cotton ginning companies at an LE21 billion cost. President Abdel al-Fattah al-Sisi on Tuesday opened up eight new factories which Tawfik said accounts for eight percent of this project. He estimates that the project will conclude with the establishment of the last factory in the first half of 2022. The developmental project includes a total modernization of construction and machinery – of which contracts are in place to import from international companies alongside comprehensive development in management, marketing and training systems. The plan involves increasing specialization and removing...read more...