Egypt’s Ministry of Public Business sector has revealed plans to establish the world’s largest spinning factory.
A statement from the Ministry said the factory covers a location measuring about 62,500 square meters, to accommodate 182 thousand spinners with production capacity of 30 tons a day.
The Chairman of the Board of the Holding company for spinning, Ahmed Mustapha, and Vice Chairman of the Board of Gamma Construction, Ayman Saad endorsed the contract formalities.
The construction work for the spinning company will take 14 months at an estimated business cost of 21 billion Egyptian pounds.
The Ministry stated that 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.
Ten companies coming from mergers arrangements, are involved in the business.