Prime Minister Moustafa Madbouly Saturday 02/12/2023 asserted that the government totally supports fresh investments and expansions in the industrial sector, whether those securing products for the local market or meant for exportation.
The premier hailed the volume of investments as well as the quality of production, during his tour of a number of factories in Sadat city, Monufia governorate, to the north of Cairo.
During a visit to the factory Alroubaia Fourtex Textiles Company, the premier was accompanied by Minister of Housing, Utilities and Urban Communities Assem el Gazzar, Minister of Local Development Hisham Amna, Minister of Trade and Industry Ahmed Samir and Monufia Governor Ibrahim Abulimon.
Madbouli checked on the production lines of the factory, which comprise multiple production stages.
Fourtex Textiles is one of the leading Middle East companies in textile manufacturing that comprises integrated production processes of spinning, weaving, dyeing and preparation using advanced production lines, Chief Executive Officer of Alroubaia Fourtex Textiles Company Mohamed Sharbati said during the tour.
Established in 1997 with Syrian-Turkish investments, the factory produces 90 million meters of fabrics, namely gabardine and jeans, per year and some 50,000 tons of yarn annually, Sharbati added.
With investments worth almost 200 million dollars, the factory has 4,000 workers, Sharbati said, adding that gabardine and jeans fabrics are exported to all European, African and Asian markets alongside the domestic Egyptian one.
He highlighted the underway expansion of two factories in Sadat city with investments estimated at LE3.7 billion, saying that exports through such expansions would record 200 million dollars annually alongside creating over 1,500 job opportunities.