Egypt has announced an EGP21bn (US$1.2bn) investment into developing its textile industry, which will include the establishment of what it says is the "world's largest textile factory."

The plans were revealed during a visit by the Ministry of Public Business Sector to the Misr Spinning and Weaving Co in El-Mahalla. According to local press reporting from the event it is part of wider plans to open four new factories in addition to preparing for the establishment of ten new gins.

The ministry said the investments would include the installation of new machinery as well as work to make existing machinery more efficient and train workers on modern machinery.

It will also result in the set-up of three export centres in Mahalla, Kafr el Dawar and Delta that will specialise in research into raising product quality.

Egypt is currently on a journey to quadruple garment and textile exports by 2025. The Vision 2025 strategy aims to employ a further 1m people, and attract US$17.5bn in investment. It was launched in 2015 by the Ready-Made Garment Export Council (RMGEC), a public-private partnership between the ministry of trade and industry and manufacturers, and has set a goal of Egypt's clothing and textile sector earning US$10bn from exports by 2025.