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Company to invest $10mln in expansion, eyes global markets
Giza-based MGS Industry has completed the integration of Nile Textile Industries into its operations and plans to invest 500 million Egyptian pounds ($10 million) by the first quarter of 2025 as part of a strategic expansion plan, its founder-chairman told Zawya Projects.
Established in 2005, MGS Industry operates from its 83,000 square metre facility in Abu Rawash, specialising in the production and export of home textiles and clothing.
Mahmoud Ghazal said the rebranding of Nile Textile Industries under the MGS Industry umbrella would enhance the company’s ability to offer a more comprehensive range of textile products and increase production to meet the growing demand in international markets.
“We are increasing our production capacity and upgrading production lines for greater efficiency,” he said, adding that new machinery ordered from Turkey is scheduled to arrive next month.
Ghazal noted that the companys expansion plans are currently focused on enhancing existing facilities. He explained that while there are no obstacles in acquiring industrial land, the priority is on making improvements to the current site.
MGS Industry currently exports 85 percent of its output to 13 global markets. With the integration of Nile Textile Industries, the company is aiming to expand its export reach to 25 markets.
Ghazal said: “We currently export to North America, West Europe, New Zealand and Australia. In the near future, we plan to penetrate African and Gulf markets, and hope to enter the Russian market.”
With the African Continental Free Trade Agreement (AfCFTA) in place, MGS Industry plans to explore new opportunities in the continent.
“We expect to expand into new African markets within the next two years, though some political challenges remain in certain regions,” the MGS Industry’ chief said.
The company is also working toward sustainability with plans to establish a solar power plant at its factory by 2026. “Our goal is to secure clean energy at fair prices. We are also deploying technology that supports sustainable energy use,” Ghazal stated.
He said the company is committed to the development of its workforce, with a dedicated training department covering all operational areas such as weaving, dyeing, printing, and sewing.
“We send engineers and supervisors abroad for training with technology providers to stay at the forefront of industry developments,” Ghazal added.
(1 US Dollar = 48.40 Egyptian Pounds) |
