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Karnak Garments to build USD 15 mn textile factory in Sadat City

The facility will use at least 50% local materials to produce garments exclusively for export to the US and the European Union.

During a tour of the complex, Hashem stated that the 2.5 million-square-meter facility represents a total investment of EGP 27 billion.

The increase in export volumes comes amid declining prices for several Egyptian cotton varieties, which has helped improve competitiveness abroad.

West Qantara Industrial Zone is experiencing rapid growth in attracting foreign direct investment from several countries.

The development, which spans 60,000 square metres, carries an investment cost of $20m and is projected to create approximately 500 direct jobs.

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