China’s Jiangsu Lianfa Textile eyes setting up $500mln textile industrial park in Egypt

Reuters Images/Mohamed Abd El Ghany

The factory is set to export 90% of production abroad

Staff Writer, Arab Finance

PHOTO

Egypt - The General Authority of Investment and Free Zones (GAFI) and China-based Jiangsu Lianfa Textile Company have probed establishing an integrated industrial park for textiles, spinning, dyeing, and ready-made garments, as per a statement.

The Chinese firm targets injecting $500 million into setting up several textile and ready-made garment production lines on an area of 350,000 square meters.

The factory is set to export 90% of production abroad.

Moreover, the company is committed to adhering to sustainable practices regarding energy and water consumption.

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