Egypt’s Minister of Public Business Sector Hisham Tawfik said that the government is adopting an integrated plan to improve the cotton and textile industries by benefiting from foreign experience in this regard.
During his participation in a symposium held by the Egyptian Businessmen Association in Alexandria on Sunday, the minister said that 25 cotton gins will be merged into 11 gins that will be ready within three years at triple the production capacity.
“Fourteen old cotton gins lands will be used to provide the required financing and to repay all the sector’s dues,” according to Tawfik.
The minister added that an export and central marketing unit will be established under the Cotton and Textile Industries Holding Company to market the products of the company.
EGP 700 million will be allocated to train workers and establish a new technical training center, Tawfik said.