Arab Finance: Prime Minister Mostafa Madbouly has inaugurated Egypt Cady Textile factory in the industrial developer zone TEDA Egypt in the Suez Canal Economic Zone (SCZone), as per a statement.

During his tour, Madbouly emphasized the government's commitment to supporting the textile industry and boosting exports, highlighting Egypt’s competitive advantage in regional and global markets.

Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir noted that the sector adds significant value to the Egyptian economy and provides extensive employment opportunities.

Chairman of SCZone Waleid Gamal El-Dien stated that the Egypt Cady project represents a $100 million investment and is expected to generate 4,500 direct and indirect jobs.

Managing Director of TEDA Egypt Cao Hui outlined the progress within the zone, revealing that 1.34 square kilometers have been fully developed with $152 million in investments, while an additional 6 square kilometers are under development with $230 million in investments.

The company is in talks with the government to expand by another 2.8 square kilometers to establish more factories.

Madbouly marked the factory’s official operation by unveiling a plaque before touring the facility.

Shi Yi, CEO of Zhejiang Cady Industrial Company, explained that the factory spans 250,000 square meters and was completed in just one year, from October 2023 to October 2024. Trial operations began in January 2025.

General Manager of Egypt Cady Yang Jun Ming confirmed that the first phase, with an annual production capacity of 10,000 tons of fabric, is fully operational, targeting annual sales of $35 million.

The second phase will begin in March 2025 and is set for completion in October, with production starting in December.

Equipped with state-of-the-art machinery, the factory adheres to environmental standards and includes research laboratories to drive innovation in textile manufacturing.

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