Egypt signs EGP 17B agreement to establish 2 recycling-based fiber plants

Updated 4/29/2025 12:00:00 PM

Arab Finance: Prime Minister Mostafa Madbouly has witnessed the signing of a shareholders' agreement to establish two companies for the production of polyester fiber and synthetic felt by recycling plastic and textile waste, as part of Egypt’s push toward a green economy and industrial sustainability, as per a statement.

The two projects will be set up at Misr for Industrial Silk and Polyester Stable Fiber Company (Misrayon) in Kafr El-Dawwar, Beheira Governorate, with foreign investments.

The agreement was signed by Egypt-based Misrayon, UAE-based Osman International Group, and shareholder Wael Zakaria Abdel Maaboud Farag, under the supervision of the Ministry of Public Business Sector.

With a total investment of EGP 1.7 billion, both projects aim to recycle industrial waste to produce polyester fiber and synthetic felt using European technology, meeting high standards of quality and sustainability.

The initiatives are expected to reduce carbon emissions, create job opportunities, and strengthen Egypt’s competitiveness in global markets by expanding local production and exports.

The first project, being built on a 25,000-square-meter site with an investment of EGP 1.1 billion, will produce 30,000 tons of polyester fiber annually from recycled plastic waste. Targeting both local and international markets, the project expects to export 80% of its production and generate annual sales of about EGP 800 million. Its capital is set at EGP 1 billion.

The second project, on a 20,000-square-meter site, will recycle textile waste to produce 30,000 tons of synthetic felt annually, with a total investment of EGP 600 million and a capital of EGP 400 million. The project is expected to export 52% of its output, generating annual sales of around EGP 230 million.