Arab Finance: The Egypt-based Misrayon and Polyester Fiber Company has shipped its first shipment after a 12-year hiatus of operation, as per a statement by the Ministry of Public Business Sector.
The company has shipped five containers of artificial silk to Türkiye, with another 14 containers are heading to Türkiye and Europe in April.
The company targets to boost its export volume by 150% in May, with monthly revenues of up to $1.25 million, in addition to garnering EGP 30 million in domestic sales.
Furthermore, the firm is scheduled to operate the second polyester fiber production line within the coming two months, with a production capacity of up to 40,000 tons annually, Minister of Public Business Sector Mahmoud Esmat said.
This is along with operating a textiles manufacturing factory.