Arab Finance: Giza Spinning and Weaving company is targeting to scale its exports up by 16% in the coming year to reach $150 million, compared to around $130 million expected by the end of 2023, the firm’s Chairman Fadel Marzouk told Al Arabiya Business.
Marzouk said that the company has started pumping new investments of EGP 100 million, with the aim of boosting the annual production capacity of the local market as well as its exports.
The new investments will raise the firm’s total annual production capacity of readymade garments from 25 million pieces to 28 million pieces, he added, expecting the annual sales to reach a total of EGP 5.4 billion in 2024.