Oriental Weavers invests EGP 100m to expand production capacity in H2 of 2016

• Published date: 04 August 2016
• Publication title: Daily News Egypt

The company Oriental Weavers plans to inject EGP 100m in investments during the second half of 2016 to expand its production capacity. The company aims to add seven new looms after its merger with Rozatks Modern Spinning and Weaving Company, bringing the total capital expenditures to $14.5m and the production capacity to 4.2m sqm.

Mohamed Farid Khamis, founder of Oriental Weavers, said the company completed the integration of two subsidiaries of the group last month to increase the corporate revenue by 3%. This step came as part of an initiative for the company's future expansion, according to an investment report issued by Oriental Weavers.

Through this integration, Oriental Weavers aims to direct its future expansion in the woven carpet sector into the Oriental Weavers Textiles, which owns a 120,000 sqm plot of land.

The company only uses 28% of this land, equivalent to 33,000 sqm, on which the company built its factory. The company now owns 22 looms as well as their processing lines with a capacity of 12m metres.

Oriental Weavers plans to establish a new metal structure over an area of ​​33,000 sqm, which will include weaving, preparation, and storage phases. The first phase is complete and two looms were added. Four more looms are planned to be added before the end of this...