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Sports Shoes factory to be set in 10th of Ramadan City at $50M

Saturday 02-09-2017 - 10:12 PM
News Agencies
Sports Shoes factory
Sports Shoes factory to be set in 10th of Ramadan City at $50M
Cairo An Egyptian Company intends to set up a new factory in the 10th of Ramadan City to manufacture sports shoes with initial investments of $50 million, Minister of Trade announced Saturday. 


Tarek Kabil added that the plant will be established on an area of 200,000 square meters, noting that the firm will start the purchasing and contracting process soon, so that the production would commence by the middle of the next year. 


The new project will direct most of its production to meet the needs of the local market, especially that the market's current output of sports shoes does not exceed 15 percent of total needs and the remaining 85 percent are being imported, Kabil said. 


The Minister highlighted that the new factory will achieve the ministry's strategic targets of replacing the imported products with local ones. 


Kabil pinpointed that the ministry is keen on providing investors in the industry sector with the needed support and help to encourage them to establish new projects either through providing them with land plots or technical and logistics support services. 


The company targets setting up a number of logistics centers to distribute its products all over Egypt, the Minister added. 

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