Egypt's Holding Company for Cotton, Spinning, Weaving and Ready-made Clothes has approved its estimated budget for the 2026-2027 financial year, with a target of 18.3 billion Egyptian pounds ($372 million) in revenue. This represents a 190% increase from the actual revenue achieved in the 2024-2025 financial year. The company's general assembly, chaired by Dr. Hussein Eissa, Deputy Prime Minister for Economic Affairs, approved the budget in the presence of company executives and representatives from the Central Auditing Agency and the Ministry of Finance.
The company's strategic plan focuses on maximizing the use of production capacity, improving operational efficiency, and increasing the quality of products. The plan also aims to develop local and export sales, open new markets, and continue implementing development and modernization programs. This will enable the company's subsidiaries to achieve sustainable growth rates and enhance their contribution to the national economy. The company operates seven subsidiaries across several governorates, including Alexandria, El-Mahalla El-Kubra, Damietta, and Minya.
Dr. Hussein Eissa emphasized that the national project to develop the spinning and weaving industry is a strategic industrial project of great importance. The project aims to restore Egypt's leadership in the global spinning and weaving industry, taking advantage of the country's capabilities and qualifications. The project involves updating factories, increasing production capacity, and building a comprehensive industry capable of competing and creating added value for Egyptian cotton.
The national project to develop the spinning and weaving industry consists of three phases. The first phase included the implementation and operation of three spinning and textile preparation factories, as well as a new power plant at the El-Mahalla El-Kubra company. The second phase includes five factories, of which four are for spinning, weaving, and textile preparation, and dyeing in El-Mahalla El-Kubra. The third phase involves the implementation of new factories for spinning, weaving, and textile preparation, as well as dyeing and finishing in several companies.
Dr. Ahmed Shaker, the company's executive director, reviewed the indicators of the estimated budget, which aims to achieve a growth rate of 190% in revenue. He emphasized the importance of paying attention to marketing and opening new export markets, while maintaining the highest quality of products. This will help increase exports, raise the market share of subsidiaries, and maximize the economic return from the industry's potential.
The company's strategy also includes enhancing the safety and health systems, developing the control and quality assurance system, and consolidating commitment to the code of professional conduct. The company aims to restore its global leadership in the value chain of the spinning and weaving industry, producing high-quality products made from Egyptian cotton using the latest industrial technologies.
The company has succeeded in opening new and vital export markets, including Pakistan, India, Switzerland, Turkey, the United States, Greece, and Saudi Arabia. The company will continue to work on expanding its external market base and increasing exports in the coming period. Key Point: The company aims to achieve revenue of 18.3 billion Egyptian pounds ($372 million) by 2027. Key Point: The national project to develop the spinning and weaving industry consists of three phases. Key Point: The company operates seven subsidiaries across several governorates.
