Egypt plans to establish two integrated textile cities
The Egyptian Government has announced plans to establish two integrated textile cities in Upper Egypt. One will be located in the Minya’s Wadi El-Saririya area and the other in the northern industrial zone of Fayoum. Each city will cover an area of 5.5 million square metres, making a total of 11 million square metres, TV BRICS reports.
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, unveiled the initiative at a press conference.
The two cities are expected to attract US$3.5 billion in local and foreign investment and create 400,000 direct and indirect jobs. This is reported by Daily News Egypt, a partner of TV BRICS.
Al-Wazir said the government plans to increase Egypt's textile and clothing exports from US$2.8 billion to US$11.5 billion over the next five years, positioning the sector as a key driver of industrial growth.
The two new cities will be created under a system of industrial developers, in partnership with the private sector. The developers will undertake the planning, construction of internal communications, operation and international marketing of the cities.
Al-Wazir emphasised that the two cities will be fully integrated, covering all stages of textile production. Each city will include industrial service and logistics zones, a specialised industrial school for textile technology, service centres for investors, medical and research facilities, and exhibition areas.
Earlier it was reported that Egypt had announced three new oil and gas discoveries.
