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Sunday, 8 May 2022

World’s largest spinning mill to begin operations next year -Tawfik

A new spinning mill in El Mahalla that is set to be the largest in the world will begin operations next year, Public Enterprises Minister Hisham Tawfik told Dostor. The state has already launched the distributing company that will sell its products, NIT, which is currently in talks with retailers and shopping malls on opening branches to sell its wares. The spinning mill, which comes as part of the government’s EGP 21 bn plan to overhaul the spinning and weaving industry, was originally slated to begin trial operations in April of this year.

Other things we’re keeping an eye on this morning:

  • Egypt Kuwait Holding subsidiary Kahraba has awarded Finnish company Wartsila a contract to deliver equipment that will add 20 MW of capacity to the 40 MW Borg El Arab power plant and upgrade its control system. (Statement)
  • An Egyptian archaeological mission has unearthed 85 tombs in southern Sohag dating from the Old Kingdom of Egypt to the Ptolemaic dynasty. (Statement)

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