(3 minutes read)
- The Oriental Weavers Company, engaged in textiles will invest about US$15 million in 2022
- It aims to add a number of new looms and machines, in addition to raising efficiency and developing some factories to increase production
- The investment and expansion plan for 2021 is expected to reach US $26 million.
The Oriental Weavers Company, engaged in textiles, will invest about US$15 million in 2022. It aims to add a number of new looms and machines, in addition to raising efficiency and developing some factories to increase production.
The company explained these plans in its communication to the Egyptian Stock Exchange (EGX). The investment and expansion plan for 2021 is expected to reach US $26 million.
The company achieved a net profit of LE 960.24 million during the period from January to the end of last September, compared to a net profit of LE 607.9 million during the same period last year.
