• China’s Fountain Set Limited plans a USD 100M textile industrial complex in Egypt, creating nearly 1,500 direct job opportunities.
• The 200,000-square-meter project will operate under free or special economic zones, aiming to supply European and African markets.
• Egypt has invested over USD 4B to modernize public factories, offering flexible partnership options to attract foreign investors.

Textile Factory

China’s Fountain Set Limited announced plans to establish a USD 100 million spinning and textile industrial complex in Egypt. The industrial project intends to span a surface area of 200 thousand square meters.

According to a statement by the Egyptian General Authority of Investment and Free Zones (GAFI), the announcement came during a meeting between the Authority’s CEO, Mr. Hossam Heiba, and the company delegation, along with representatives from Elegance Apparel Garments Freezone, operating in the Shebin El Kom free zone.

The project will operate under the framework of free zones or economic zones with a special nature. It will operate with an investment set at around USD 100 million, aiming to generate nearly 1500 direct job opportunities. In addition, the project seeks to become a center for fabric production and export to European and African markets. 

During the meeting, the participating parties reviewed the expansion plans of Elegance Apparel Garments Free Zone, which seeks to strengthen its production capacity and widen its activities.

Industrial Sector

The CEO of GAFI, Mr Heiba, emphasized the readiness of Egypt’s industrial infrastructure to accommodate new investments. Further noting that so far, the country has injected over USD 4 billion to modernize public sector factories. This includes the import of the latest European machinery, while offering flexible partnership models to foreign investors, such as ownership, leasing, and usufruct.

Mr Heiba also affirmed that the industrial sector, particularly the textile and spinning sector, is a top priority at this stage. This is due to its pivotal role in boosting exports. deepening local manufacturing and increasing job opportunities.