Prime Minister Moustafa Madbouly inspected a fishing net and equipment manufacturing factory in Kafr El Sheikh on Saturday that plans to increase annual production fivefold, from 400 tons to 2,000 tons by 2030. Madbouly visited the Egyptian Company for Manufacturing Nets and Fishing Tools in the Baltim Industrial Zone during a tour of industrial and development projects in the governorate.
During his tour, the PM said that the government is supporting factories that increase local manufacturing and exports, particularly industries connected to the economic activities of their surrounding areas. Kafr El Sheikh is one of Egypt’s main centers for fishing and aquaculture, creating demand for locally manufactured fishing nets and equipment.
Factory Director Kassem Mostafa said that the company began production in 2016 and currently employs around 100 workers. Its factory covers about 5,000 square meters and has an annual production capacity of 400 tons. About 50% of the components used in production are sourced locally.
The company sells 75% of its output in Egypt and exports the remaining 25% to markets including Turkey, Sudan and Gulf countries. Under its expansion plan, the company is set to receive new Japanese weaving machines this year and add production lines for raw materials and heat-setting in 2027.
The company expects the expansion to increase annual capacity to 1,000 tons in 2028 and 2,000 tons by 2030. Madbouly also toured the Baltim Industrial Zone, which covers 114 feddans and has a 100% occupancy rate. The zone is home to 106 industrial projects and provides around 3,850 direct and indirect jobs.
Finally, the premier affirmed that the government would continue supporting factory expansions that increase local content, production and exports. Egypt-China Joint Communiqué on the further deepening of their comprehensive strategic partnership Old Kingdom tomb discovered at Egypt’s Saqqara necropolis