CIB pens $72M financing deal With Paradise Textiles for eco-friendly factory in Alexandria
Updated 2/9/2026 11:00:00 AM
Arab Finance: Commercial International Bank (CIB) signed a partnership and financing agreement with textile manufacturer Paradise Textiles and a group of related companies to fund the establishment of what is set to be the largest eco-friendly textile manufacturing plant in Alexandria’s Amreya Free Zone.
The total investment cost of the project is estimated at $102 million.
CIB’s total financing amounts to $72 million, to be disbursed in three phases. The first tranche, valued at $35.5 million, is set to be released immediately, with the remaining funding scheduled over the next two years in line with the agreed timeline.
The agreement aligns with the bank’s strategy to back large-scale industrial projects with a strong environmental focus and export orientation.
The project will involve building a fully integrated factory equipped with advanced, environmentally friendly technologies and machinery designed to reduce environmental impact and support sustainable production.
The facility will be the first project of its kind in the Middle East to seek LEED certification, a globally recognized standard for sustainable buildings and projects.
The factory will focus on designing and manufacturing high-quality polyester and synthetic fabrics used in homewear and sportswear for international brands, with a particular emphasis on serving the US market.
The plant will be developed on a 47,345-square-meter site within the Amreya Public Free Zone in Alexandria, adjacent to garment manufacturer Alex Apparels, a move expected to support industrial integration between the two operations and strengthen export-oriented supply chains.
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