 The
global textiles industry is currently going through a period of change due to
the rapid pace of globalization. One of these changes is the migration of the industry
from the Northern Hemisphere where production costs are high to the Southern Hemisphere
where costs are more competitive.
Textile City is a textile cluster in the Borg El Arab Industrial Zone near Alexandria,
Egypt.
The cluster covers an area of 1.2 million square meters and is located in
the extension of the 4th Industrial Zone in Borg El Arab. As the first textile investor
in Textile City, Setcore is working closely with the Egyptian Ministry of Trade
and Industry to attract our main European and Asian customers to invest
in the cluster.
To date, several key European and Asian textile producers have committed to
invest in Textile City.
We expect more to come over 2007 and 2008.
The main objective of Textile City is to become a world class export hub for textile
manufacturers covering a large portion of the textile supply chain starting with
raw cotton followed by spinning, weaving, dying, finishing and finally ready made
garments.
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