PHOTO
Arab Finance: Elsewedy Industrial Development, a subsidiary of Elsewedy Electric, has signed an agreement with Turkish textile giant Boni to establish a $100 million integrated textile factory in 10th of Ramadan City, as per a statement.
The project will be developed within the Industria 10th industrial zone and span 120,000 square meters, becoming a private free zone aimed at enhancing Egypt’s role as a regional textile hub.
Supported by the Egyptian Commercial Representation Office in Istanbul and the General Authority for Investment and Free Zones (GAFI), the deal is seen as a step forward in attracting foreign direct investment into Egypt’s textile sector, a key contributor to exports and job creation.
Operations at the new facility are expected to begin by the end of 2026 and create around 2,500 direct and indirect jobs.
