The Egyptian Government has decided to invest LE24 billion in order to renovate the state-owned textile sector. Under the plan, more than 30 affiliated textile companies will be modernized under the supervision of the Ministry of Public Enterprise Sector.
Amongst these companies, Cotton and Textile Industries Holding Company has already started with the process of evaluation of its land plots. Helping them in the process are the government assessment bodies and legitimate channels for preparation of potential sale and to provide the necessary funding to implement the modernization plan for the companies.
“We are in the process of developing the cotton ginning facilities and reducing the number from 25 to 11, to be located in governorates that cultivate cotton,” said Ahmed Mostafa, Head, Cotton and Textile Industries Holding Company. The company plans to modernise its equipment to the most efficient and the advanced level available along with training of workers. The development of spinning and weaving stages will be taken care thereafter.
Mostafa also mentioned, “The Government might increase the amount of investment for modernization.”
In another development, Ashraf al-Sharkawy, Minister of Public Enterprise Sector had met with the Ministry of Agriculture and Industry to decide upon cotton and agriculture policies that will serve development of the textile industry.
Furthermore, the state affiliated spinning and weaving companies owed debts to National Investment Bank, the National Organization for Social Insurance and the ministries of Electricity and Petroleum for the consumption of gas. The land plots owned by these companies will be exchanged for repayment of debts in favour of creditors.
Bharat Tex Special Report 2026 
