October 14, 2021

Egypt to relaunch cotton marketing company under a new brand


The Egyptian government plans to launch a new brand to market the country’s cotton crop abroad at the beginning of next year.

The new brand will be announced next January, when Egyptian cotton is expected to return strongly to global markers.

The area on which cotton will be cultivated has been increased by at least 30 percent, according to business sector minister Hisham Tawfik.

The ministry has completed around 60 percent of the restructuring plan of the Holding Company for Cotton, Spinning and Weaving, and its subsidiaries, which it started in 2019, with a total investment of $1.2 billion.

The restructuring plan aims to increase the production capacities of the factories by five times and increase the quantities of yearn from Egyptian cotton.

Wael Alma, head of the Egypt Cotton Association, highlighted the improved level of the North African country’s cotton globally, as a result of efforts done by his organisation together with the Ministry of Business Sector.

arabnews


Categories : government

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