Misr Artificial Silk and Polyester Fibers Company, a subsidiary of Egypt's Holding Company for Cotton, Spinning, Weaving, and Clothing, signed a shareholder agreement with UAE-based Usman International to establish two new companies for two industrial projects involving foreign investments. The projects aim to recycle plastic and fabric waste to produce polyester fibre and industrial felt to help reduce carbon emissions while providing essential industrial products for both local and global markets. The production lines will utilise European technology, ensuring high-quality and sustainable output. The first project will span 25,000 square metres and requires an investment of EGP 1.1 billion, targeting an annual production of 30,000 tons of polyester fibre derived from recycled plastic waste. The products will be used in various industries, including textiles, mattresses, thermal insulation, road construction, carpets, and automotive interiors. The project is expected to reduce the local supply-demand gap, with 80 per cent of production destined for export and annual sales estimated at EGP 800 million. The second project, spanning 20,000 square metres, will focus on recycling fabric waste to produce industrial felt used in the aviation, automotive, and furniture industries. With a total investment of EGP 600 million, the project aims to produce 30,000 tonnes annually, with 52 per cent of production earmarked for export. Projected annual sales are EGP 230 million. The two projects are expected to transform Kafr El-Dawar into a regional hub for recycling and alternative raw material production, contributing to Egypt's goal of expanding high-value industries, protecting the environment, and boosting exports. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
