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China Textile Machinery inaugurates a Nonwoven Project
06
Jun '08
The Egyptian Nonwoven Project, invested and constructed by China Textile Machinery (Group) Co Ltd, a subordinate unit of China Hengtian Group, celebrated its opening ceremony last month.

The Project, located at Northwest Economic Area in Suez Bay, Egypt, is the largest China-invested venture in the Zone.

More than 100 key delegates from the industry and related fields attended the inauguration ceremony.

This Project covers an area of about 20,800 square meters, with a construction area of 12,000 square meters, and a total investment of US $12.47 million.

The two countries mutually agreed to cooperate and plan partnerships in 2004.

Thus, in June 2005, Egypt-China Textile Machinery Nonwoven Company Ltd was registered in Egypt under Egyptian '8th investment encouragement policy'. Its foundation laying ceremony was held in July and was formally put into operation in February 2008.

It is expected to gradually achieve the designed production capacity of an annual output of 3,000 tons of polypropylene nonwovens, more than 11 million sets of surgical clothes and products in three years. It also provides about 500 jobs for Egyptian people.

Annual sale is expected to reach about $7.5 million, of which exports will be $6.50 million. Up to now, 320,000 sets of surgical clothing have been exported to France.

It marks that the two countries have entered a new cooperation stage in textile field. This will definitely promote the development of non-woven fabrics industry, strengthen bilateral trade and economic as well as technical collaboration.

Fibre2fashion News Desk - China


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