Home / Knowledge / News / Textiles / Government sanctions revival funds for two textile mills
Government sanctions revival funds for two textile mills
20
Jul '09
The Egyptian government in a bid to revive its faltering textile sector has sanctioned a huge amount to revive Misr Textile Mills and Kafr El Dewar Textile Company in the country.

The government had earlier cancelled a huge debt of US $900 million of Misr and is now once again funding the mill to buy new technological machinery for all its departments in order to make it competitive.

With the installation of new machinery, Misr is expected to roll out high value added products and slowly phase out production of the traditional textiles to make it able to withstand competition from other countries.

Kafr El Dewar spinning and weaving mills also has a debt of an awesome $520 million and the government is also funding this mill in a bid to reduce the debt burden and make the operations of the mill viable.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Pan Brothers

Apparel/Garments | On 30th May 2017

Pan Brothers to set up 2 new garment factories

PT Pan Brothers Tbk plans to increase its production capacity by...

Apparel/Garments | On 30th May 2017

Levy uniform rate of GST on yarn & fibre: SIGA

The South Indian Garment Association (SIGA) has urged Union finance...

Textiles | On 30th May 2017

ExxonMobil, SABIC sign deal for next phase of US project

Affiliates of Exxon Mobil Corporation and Saudi Basic Industries...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search