Egypt’s Cotton, Spinning, Weaving and Garments Holding Company and Sudan’s Mahgoub Sons Group recently signed a memorandum of understanding (MoU) to enhance cooperation to produce short-staple cotton in Sudan and use it in manufacturing in Egypt. The latter will grow and produce cotton for the Egyptian firm at prices to be agreed upon according to each season’s international prices.Some production lines will be made available in some of the holding company’s factories with specific capacities to operate for the Sudanese company for different stages of production.
Egypt's Cotton, Spinning, Weaving and Garments Holding Company and Sudan's Mahgoub Sons Group have signed an agreement to enhance cooperation to produce short-staple cotton in Sudan and use it in manufacturing in Egypt. The latter will grow and produce cotton for the Egyptian firm at prices to be agreed upon according to each season's international prices.
The agreement was signed by Wagdi Mahgoub, chairperson of the Mahgoub Sons Group, and Ahmed Moustafa, executive managing director of the Egyptian company. Egyptian minister of public enterprise sector Mahmoud Esmat witnessed the signing ceremony, according to Egyptian media reports.
Fibre2Fashion News Desk (DS)
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