Home / Knowledge / News / Textiles / Egypt resolves to revive closed down factories

Egypt resolves to revive closed down factories

03
Jan '12
In order to boost the development of trade and industry, the Egyptian government will try to resolve challenges faced by around 1,500 closed factories, which include those in the textile value chain.

This was revealed by Mahmoud Eissa, Minister of Trade and Industry, said in a statement. He added by saying that, the government will seek solutions on an urgent basis, so these closed factories may resume production at the earliest.

Abu El Sebaa, located in Mahalla and which was one of the biggest textile exporter from Egypt has been revived and resumed production recently.

The Industrial Development Authority (IDA) and the Industry Modernization Center (IMC) have been made the nodal agencies for the revival of these companies and will conduct due diligence of these factories once they receive the proposals from them.

Most of the factories were closed down on insistence orders from their respective banks as they could not pay off their debts.

Of the many which closed down, textile and apparel factories, constitute a good number.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 5th Aug 2021

US manufacturing activity grows in Jul; textile mills report fall: ISM

Economic activity in the US manufacturing sector grew in July, with...

Pic: Shutterstock

Textiles | On 5th Aug 2021

UK inflation to hit 3.9% in early 2022, 2% in 2023, predicts NIESR

UK consumer price inflation will reach 3.9 per cent early next year,...

Pic: Shutterstock

Retail | On 5th Aug 2021

Walmart again ranked largest firm by revenue, Amazon 3rd: Fortune

Walmart has been again ranked the largest company in the world by...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Extension of RoSCTL to boost textile exports

Textile Industry, Head honchos

Textile Industry
Head honchos

Switch was not 100% pandemic related

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Sanjay Jhunjhunwalla,

Sanjay Jhunjhunwalla

In the financial hub of eastern India, Kolkata, a humble production...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

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

Leave your Comments


July 2021

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


Advanced Search