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Egypt’s ECAHT, IFC launch technical textile project to attract $800 mln in investments

Doaa A.Moneim , Tuesday 7 Dec 2021

The Egyptian Chamber of Apparel and Home Textile Indutries (ECAHT) launched on Tuesday a project on upgrading technical textile’s industry supply chains that aims to attract about $800 million in investments, ECAHT announced.

Textile industry
File Photo: A labourer works at a textile mill in Mahalla el-Kubra, about 110km north of Cairo. REUTERS

The project was launched in collaboration with the International Finance Corporation (IFC), a member of World Bank Group.

ECAHT’s chairperson Mohamed Abdel Salam stated that the technical textile sector is a modern industrial sector in Egypt with annual exports totalling $750 million and an annual growth rate of 51 percent.

He added that the project aims to boost Egypt as a hub for manufacturing and exporting this kind of products as well as attracting foreign investments and fostering exports.

Technical textiles are engineered products manufactured using both natural and man-made fibres such as Nomex, Kevlar, Spandex, and Twaron.

According to a report released by the USAID, the future of the technical textiles market in Egypt has promising opportunities.

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