Oriental Weavers completed 60 percent of construction works in the new yarn plan, which investment cost amounts to about LE 250 million.
Haitham Abdel Menem, investor relations manager of Oriental Weavers, said that the company is focusing on all construction works for the new plant which amounts to about LE 50 million in order to start operations by the last quarter of the current year.
The company signed a contract with a Swiss company in order to export the new plant’s production at a cost ranges between LE 18-200 million to raise its production capacity to 400.000 tons annually.
