“National industry”.. Egyptian plan to increase local production and reduce imports

Egypt seeks to consolidate the idea of the national industry, as it is the only way to compensate for imports and to provide local production at better prices than the imported ones.

  In a move to reduce pressure on the country's hard currency, national production in several sectors has become a priority for the government.

The government is now providing many prospective projects to reduce imports and provide for the needs of citizens. 

The plan that the state is working on to localize the industry focuses on the most vital and important sectors, and among the mega projects in 2023 are:

• Automobile tire industry

  Work is underway on this industry with the global "Hill Company" to produce 7.5 million various car tires annually.

  This production compensates for 50% of imports, and suffices and covers the bulk of the needs of the Egyptian market.

The "Arab Organization for Industrialization" and "Hill International Company" signed a contract to start the executive steps to launch a project for the production of vehicle tires of all kinds.

  The project includes passenger and transport vehicles, buses, agricultural tractors, monorails, and heavy equipment, under the slogan “Made in Egypt”, The project produces about 7.5 million tires annually.

The signing of this agreement, in October 2020, was preceded by the signing of a framework agreement for cooperation with the Holding Company for Chemical Industries.

  The agreement includes the establishment of a strong national industrial alliance to manufacture vehicle tires of all types, and the establishment of a vehicle tire factory in the economic zone of the Suez Canal in Ain Sukhna on an area of 450,000 square meters.

• Textile

  The second project is the inauguration of the largest spinning and weaving factory in the world, as Egypt has huge potential in the manufacture of yarn, clothing and furnishings, by working on a project to develop cotton, spinning and weaving companies.

  This project is the largest investment in the Ministry of Public Enterprise Sector companies, as its cost exceeds 23 billion pounds.

• The largest spinning mill in the world

Egypt is preparing to inaugurate the largest spinning and weaving factory of its kind in the world in the coming days, after it was fully completed in the second half of last year.

The new “Ghazl 1” factory has been completed at “Misr Spinning and Weaving Company”, which comes within the framework of implementing a plan to restructure and develop the companies affiliated to the Holding Company for Cotton, Spinning and Weaving, at a cost of more than 23 billion pounds.

The installation work of the main concrete structure of the factory, which is the largest in the world, has also been completed to produce yarn with an estimated capacity of 30 tons of yarn per day, or 10,800 tons per year.

  The factory contains the latest Swiss Ritter machines in the world inside the factory on an area of 62.5 thousand square meters.