The Head of the Cotton and Textile Industries Holding Company in Egypt, Ahmed Mostafa recently said that during the Parliament’s local administration committee’s meeting held to discuss a complaint regarding the misuse of state’s lands aligned with a spinning and weaving company in Beheira governorate, the government has come up with a five year plan to develop spinning and weaving companies in northern Egypt. This five year plan need money to the tune of about LE 20 billion.
As per the complaint, these lands were being sold and leased out for personal gains. Mostafa upheld the complaint that these lands were misused and said that this issue was under investigation. The government is working on resolving such issues through development plans for the spinning and weaving industry across the country so that the sector regains its past glory.
Mostafa assured that some of the companies’ lands will be used to secure the LE 20 billion needed to finance the government’s plan to develop the spinning and weaving industry in the north Egyptian governorates of Alexandria, Beheira and Gharbia. The Government aims to make these governorates attractive to the spinning and weaving industry.
In November, Gharbia Governor Ahmed Sakr said that an industrial zone for spinning, weaving and ready-made garments would be established in Mahalla. The project comprises three industrial zones targeted at attracting new investments of around LE 2 billion, it is expected to create 25,000 jobs and establish more than 100 new spinning and weaving mills to develop Egyptian industries — along with participation of the private sector.
