Egypt Secures $72 Million CIB Financing for $102 Million Fabric Mega Plant

Commercial International Bank–Egypt (CIB) has partnered with Paradise Textiles to establish the region’s largest fabric manufacturing plant in the Amreya Public Free Zone, Alexandria.

CIB will finance $72 million—in 3 phases—out of the total $102 million project cost, with the first tranche of $35.5 million to be released in the current phase and the balance over the next 2 years.

The integrated facility will use advanced environment-friendly technologies and machinery, targeting LEED green sustainability certification, the first of its kind in the Middle East.

The plant will manufacture polyester fabrics and high-quality synthetic textiles for home wear and sportswear, catering to global brands.