Cotton & Textile Industry Holding Company kicks off major program at ITMA. Program includes spinning, weaving, knitting, dyeing, finishing, printing and garment perations. Total value of the program is approximately 1 Billion Euros. Phase one contracts awarded to seven machinery equipment suppliers. Contracts will be implemented between 2019 and 2021.
Ministery of Public Sector Cotton & Textile Industries Holding Company of Egypt kicked off the implementation of a major modernization program at ITMA Barcelona. The program, supported by the president of Egypt, Abdul Fatah Al-Sisi and Minister of Public Enterprises, Dr. Hisham Tawfik, aims to upgrade Egypt’s upstream textile industry to support its competitiveness to become a major regional sourcing hub in the Mediterranean region.
The restructuring program performed and supervised by Werner International aims to restore Egypt’s prominent position in the world markets, capitalizing on the global renown fine Egyptian Cotton fibre.
The program includes the modernization of spinning, weaving, knitting, dyeing, finishing, printing and confection, based on a product line definition which brings forth added value to Egyptian cotton, from cotton farming to ready-made goods with world class level in terms of quality and efficiency – aiming to support Egypt Private Sector upstream manufacturers competitiveness in the world markets.
The total value of the program is approximately 1 Billion Euros, which includes around 780 000 new spindles and 1250 new looms, dyeing, printing and finishing machinery and state-of-the-art cutting and sewing equipment.
During ITMA, contracts were awarded for the first phase of the modernization program to seven textile machinery suppliers: Benninger (including Thies and Brueckner), EFI Reggiani, ITEMA, Karl Mayer, Marzoli, Rieter and Savio. The contracts were signed at the ITMA in Barcelona, Spain, by Dr. Ahmed Moustafa Mohamed, Chairman Cotton & Textile Industries Holding Company, and Dr. Norbert Klapper, CEO Rieter.
Dr. Ahmed Moustafa Mohamed was very pleased at the signing ceremony in Barcelona, Spain: “The masterpiece of this development plan is the establishment of a state-of-the-art new spinning mill for fine and extra-fine counts, hosting over 180 000 spindles under one roof, making it the biggest of its kind worldwide.
“The Government of Egypt has decided to make a big investment into the textile industry of the Public Sector. The program will have a major impact on the competitiveness and the success of the Egyptian textile industry in the future. It is an important step for our country. I am proud and happy that the leading machine suppliers are committed to support the Holding Company in the implementation of the program. We thank ITMA for having hosted the signing ceremony which gave us the opportunity to kick off our ambitious program so solemnly.”
Dr. Klapper was very pleased at the formal signing of contracts: “We would like to thank our Egyptian business partners for the confidence they are placing in Rieter by awarding us this contract. Rieter has been the partner of choice of the Egyptian spinning industry for decades. We are delighted to be given the opportunity of making such an important contribution to the modernization of the Egyptian textile industry.”