Prime Minister Mostafa Madbouly on Sunday, September 6, 2026, inaugurated a factory operated by F-TEX International Company to produce polyester yarn, with investments of USD 10 million, in the Ain Sokhna industrial zone affiliated with the Suez Canal Economic Zone (SCZONE).
The inauguration came at the start of Madbouly's tour of the industrial zone. The event was attended by Labor Minister Hassan Raddad, Planning and Economic Development Minister Ahmed Rostom, Industry Minister Khaled Hashem, Suez Governor Hani Rashad, Suez Canal Economic Zone Chairman Mostafa Sheikhoun, as well as senior officials from the authority, representatives of industrial developers and heads of companies implementing projects in the zone.
After unveiling the plaque marking the factory's inauguration, Madbouly said that the state is moving ahead with its plans to localize intermediate industries as a key pillar in completing industrial value chains. The premier added that such industries provide strategic production inputs that support the growth of end-product industries and increase the share of local components, which contributes to enhancing the competitiveness of Egyptian industry and supporting the State's industrial and export expansion targets.
Madbouly stated that establishing new projects in the yarn and textile industry represented an important step towards building a strong production base capable of meeting domestic market needs and expanding into foreign markets. For his part, Sheikhoun said that the project was an important addition to the intermediate industries sector in the zone and formed part of the authority's strategy to build integrated industrial value chains.
The project would help achieve greater integration among textile and spinning factories operating in the authority's industrial zones, both in the Sokhna Industrial Zone and the West Qantara Industrial Zone, he said. It would also enhance the availability of production inputs needed by factories operating within the Suez Canal Economic Zone, supporting the competitiveness of Egyptian industry and boosting exports, Sheikhoun added.
On the sidelines of the inauguration, Madbouly toured the factory's facilities, particularly the raw-materials, preparation and manufacturing areas, as well as the finished-product and packaging sections. He received an explanation from Harry Lu, Chairman of F-TEX International Company, about the manufacturing process and production stages.
Lu said the factory was built on an area of 55,000 square meters, with investments amounting to $10 million.