Elsewedy Industrial Development, Crystal Group to build $350M industrial complex
Updated 1/19/2026 2:12:00 PMArab Finance: Elsewedy Industrial Development and Crystal Group signed an agreement to establish an integrated industrial complex for spinning and weaving industries, with initial investments of $350 million, according to a statement.
The project will be located on 800,000 square meters in Industria October in New October City.
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir indicated that the venture aligns with the state's objectives to develop the spinning and weaving industry.
The facility will deepen local manufacturing, increase added value, reduce reliance on imports, and support industrial exports.
The project will deploy advanced manufacturing technologies and highly efficient production systems that meet the demands of export markets. In this regard, the project anchors Egypt's position as a leading regional hub for the spinning and weaving industry.
Iit is expected to offer around 20,000 direct jobs, making it one of the largest labor-intensive projects in the spinning and weaving sector.
This supports the government’s plans to create sustainable employment opportunities, transfer technical expertise, and build a qualified industrial workforce in major industries.
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