Related Keywords: Egypt signed deal, Exports of Textile, Home Textiles and Ready Made Garments, Investment minister Ashraf Salman, outdated machinery, restructure textile companies, textile manufacturing sector, US based Werner International, used in state owned companies
Egypt’s once-thriving textile manufacturing sector has weakened over past decades with its outdated machinery from the 1950s used in state-owned companies. Egypt has signed deal with US-based Werner International to restructure 25 state-owned textile companies said Investment minister Ashraf Salman on Thursday.
Ahmed Moustafa, head of the state-owned Holding Company for Textiles said that the restructuring will begin in February and will take 43 weeks to complete.
