Textile Holding Allocates EGP50 mln To Open Shebin El Kom Spinning Company
Published Wednesday, 23 January 2013 15:02 |
The Cotton and Textile Industries Holding Company, one of the companies affiliated to the Ministry of Investment, has allocated EGP 50 million to re-operate Misr Shebin El Kom Spinning & Weaving Company constantly. The Minister of Investment has to address the Finance Minister to provide the sum; especially the company after the revolution is being managing by the workers as the investor left it.
In exclusive statements to "Amwal Al Ghad", Fouad Abdel Aleem, Head of the Cotton and Textile Industries Holding Company, said the company formed the committee which will receive Misr Shebin El Kom Spinning & Weaving Company. Its work is supposed to start work after 10 days.
He added that the company sent a warning to the Indian investor over restoring Misr Shebin El Kom Spinning & Weaving Company, after the court returned a verdict of restoring the company to the state.
Most Popular »
- Egypt needs $11bn to upgrade transport system; minister says amid train derailment
- LG Electronics denies suspending Egypt operations
- Egypt’s CIB posts record profit in 2015
- Saudi Panda eyes more branches in Egypt, developing 20 consumer complexes
- EBRD, Bank Audi ink $30 million deal to boost SMEs in Egypt