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المصدر
Source: المصدر
1 Dayالمصدر
Source: المصدر
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The EMS project "Eroglu Knitting," operated by the Turkish-based Eroglu Group in Egypt, faces challenges related to its financing. The project involves an investment of up to $140 million on a 150,000-square-meter site in the Qantarah West area. The Commercial International Bank (CIB) is financing the majority of the project with an $80 million medium-term loan over seven years, aimed at supporting the completion of an integrated industrial complex specializing in textiles and ready-made garments. The facility is expected to have an annual production capacity of 24 million pieces. The project seeks to enhance Egypt's industrial and export capabilities by increasing production and employment, with projected revenues of up to $165 million annually, and intends to direct 100% of its sales toward export markets. This financing demonstrates the bank's confidence in Egypt's manufacturing sector and its role in attracting foreign investment, while also strengthening Egypt's position as a regional hub for industry and export.
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