New programme to modernise Egypt is textile industry
Contracts have been awarded to industry players for the first phase of the programme at ITMA 2019,worth approximately €1 bn
Yesterday,Cotton and Textile Industries Holding Company(CTIHC) Of Egypt kicked off the implementation of a major modernization programme at ITMA Barcelona.The programme,supported by the president of Egypt,Abdul Fatah AL-Sisi,and Minister of Public Enterprises,Dr Hisham Tawfik,aims to upgrade Egypt is upstream textile industry to support its compeitiveness to become a major regional sourcing hub in the Mediterranean region.The restructuring programme,performed and supervised by werner international,aims to restore Egypt is prominent position in the world markdts,capitalizing on the globally renowned fine Egyptian Cotton fibre
The programme includes the modernization of spinning,weaving,knitting,dyeing,finishing,printing and confection,based on a product line definition which brings forth added value to Egyptian cotton,from cotton farming to ready-made goods with “world-class”levdls in terms of quality and efficiency-aiming to support Egypt Private Sector upstream manufacturers competitiveness in the world markets.The total value of the programme is approximately €1bn,which includes around 780,000 new spindles and 1,250 new looms,dyeing,printing and finishing machinery ang state-of-the-art cutting and sewing equipment.The foreseen investments will stimulate the dynamism for upgrading techmology in the entire industry and ensure a continual increase in productivity ags well as technical and management skills,to maximize value creation with in the Egyptian textile value chain.It will affect largely Egypt is vertical integration and competitiveness,taking advantage of Egyptian cotton.
Dr Ahmed Moustafa Mohamed,chairman of the Holding Company,was proud to announce that,as part of the restructuring project,the masterpiece of his development plan is the est of his development plan is the establishment of a statablishment of a state-of-the-art new spinning mill for fine and extra-fine count new spinning mill for fine and extra-fine counts,hosting over 180,000 spindles under one roof,making i,hosting over 180,000 spindles under one roof,making it the biggest of its kind worldwide.During ITMA,contracts were awarded for the first phase of the modernization programme to seven textile machinery suppliers:Benninger (including Ted for the first phase of the modernization programme to seven textile machinery suppliers:Benninger (including Thies and hies and Bruckner),EFI Reggianuckner),EFI Reggiani,Itema,Karl Mayer,Marema,Karl Mayer,Marzoli,Rieter and Savio.speaking at tzoli,Rieter and Savio.speaking at the signing ceremony,held yesterday in Hall 8.1,CC8,Drhe signing ceremony,held yesterday in Hall 8.1,CC8,Dr Ahmed Moustafa Mohamed said: “T Ahmed Moustafa Mohamed said: “The Government of Egypt has decided to make a big investment into the textile industry of the public sector.The programme will have a major impact on the competitiveness and the success of the Egyptian textile industry in the future.it is an important step for our country.I am proud and happy that the leading machine suppliers are committed to support the Holding Company in the implementation of the programme.we thank ITMA for having hostd the signing ceremony which gave us the opportunity to kick off our ambitious programme so solemnly”