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Turkish firm invests $900mn for textile cluster in Algeria
23
May '13
Turkish textile firm Taypa has signed a US$ 900 million deal with Algeria’s state holding company Société de Gestion des Participations Industries Manufacturières (SGP-IM) to build a textile-clothing industry cluster in Relizane province of the North African country of Algeria.
 
Mohamed Benmeradi, the Algerian Minister of Industry, Small and Medium Enterprise and Investment Promotion, said the construction for textiles and garment industries at the cluster will begin in late June 2013, according to The North African Post report.
 
The textile and clothing project will include plants for manufacturing jeans fabric, poplin, gabardine (fabric for trousers) and yarn; a central unit; and a unit for finishing knitting work. The other plants will specialize in the manufacturing of trousers, shirts and various hosiery items.
 
According to the Minister, the completion of the eight textile and apparel production units will create 10,000 new jobs.
 
Once operational, the weaving units are estimated to manufacture 60 million metres of fabric, including 30 millions of jeans, per year. Out of the total produce, 60 percent of the production will be for the local market and the rest will be exported.
 
The Taypa group is present in the global textiles and apparel market for the past 37 years. The company is also known for outsourcing manufacturing orders to other countries.
 

Fibre2fashion News Desk - India


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