The company's plan aims to create more than 500 job opportunities and export no less than 100% of its annual production.
The Egyptian Cabinet has approved a draft decision to establish a private free zone under the name Kingdom for Flax with an estimated investment cost of around $60 million.
The company will focus on flax production, spinning, and weaving in the Developers Zone of Sadat City, located in the Monufia Governorate. The project is set to cover approximately 52,000 square meters.
The company's plan aims to create more than 500 job opportunities and export no less than 100% of its annual production.
Additionally, it is committed to using local components for at least 30% of its production.
The Cabinet also has approved a decision to grant the Golden License to the Egyptian Salts and Minerals Company (EMISAL), a private joint-stock company, for its project to establish and operate a plant for the production of potassium sulfate fertilizer.
The project, with an investment of over 600 million EGP, aims to create 100 job opportunities.
The plant will be located in the village of Shakshouk, within the Abshway district of Fayoum Governorate, spanning an area of 5,600 square meters.
The initiative is geared toward transferring and localizing advanced technologies in the field of potassium sulfate production. It also aims to contribute to reducing environmental impacts by lowering heat and gas emissions and improving climate conditions.
Furthermore, the project will work towards mitigating the increasing salinity levels of Lake Qarun, which currently pose a threat to the lake's ecological balance within its protected area.
