In a major boost to Egypt’s industrial ambitions, Turkish textile conglomerate Boni has announced a $100 million investment to build a state-of-the-art textile factory in the heart of the country’s key manufacturing hub, 10th of Ramadan City.
The initiative is being rolled out in collaboration with Elsewedy Industrial Development, a subsidiary of Egypt’s powerhouse conglomerate Elsewedy Electric.
The upcoming facility will span a sprawling 120,000 square meters and will operate under the framework of a private free zone, allowing the project to benefit from targeted customs exemptions and tax incentives designed to encourage export-driven production.
With this strategic partnership, Egypt aims to fortify its textile manufacturing base and position itself more competitively within regional and global value chains.
Officials say the project aligns with the country’s broader push toward reindustrialization, particularly in sectors with high export potential.
“The investment represents a strong vote of confidence from Turkish investors in Egypt’s economic trajectory,” one government source familiar with the project noted.
“It’s not just about building a factory — it’s about unlocking an entire ecosystem of industrial revival.”
The selection of 10th of Ramadan City, one of Egypt’s premier industrial zones, underscores the government’s ongoing efforts to revamp the sector with robust infrastructure and supportive policy frameworks.
Known for its logistical advantages and manufacturing-friendly regulations, the city is rapidly becoming a magnet for both regional and international investors.
Beyond the economic dividends, observers say the project may also mark a warming of economic relations between Egypt and Turkey — two regional powers that have had fluctuating diplomatic ties in recent years but are increasingly turning to mutual economic interests to strengthen cooperation.
Egypt’s Ministry of Trade and Industry has welcomed the move, signaling it as a critical step in attracting quality foreign direct investment and expanding the country’s footprint in the global textile market.
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