Cairo – Egypt’s Cabinet recently agreed to develop a special free zone under the name of Volo Textile Company on Ismailia Desert Road.
Being an Egyptian joint participant, the firm will operate a textile manufacturing factory for dyeing, finishing, and printing. The project will be built on a gross area of 69,215 square metres and will provide more than 1,010 job opportunities for both Egyptians and foreign nationals.
Meanwhile, the factory is expected to produce 8,400 tonnes of textile in the first year of inception, with a plan to reach 10,800 tonnes in the second year.
The industrial development will achieve a local component of around 35% and target exporting rate of 100%, which contributes to boosting Egypt’s exports and reinforcing the performance of foreign trade indicators.
First industrial complex for feed manufacturing in MEA
The Cabinet also approved the General Authority for Investment and Free Zones’ (GAFI) request to establish a new project for feed manufacturing, chemicals, and plant nutrients.
The project is considered the first industrial complex for feed manufacturing in the Middle East and Africa (MEA).
Located in Qena’s Hu Industrial area, the project will be constructed under the company name CFC Feed and Chemicals and will span 368,118 square metres, targeting 75% local components and 80% for exports. The project will likely create job opportunities for about 2,500 Egyptian workers.
Furthermore, the industrial project will use the latest German technology standards. It supports the government’s objectives for the development of Upper Egypt governorates, in addition to bolstering the local feed industry, which is one of the most important strategic sectors in the Arab Republic.
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