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Oriental Weavers to Invest $33 Million for Expansion, Borsa Says

June 13 (Bloomberg) -- Oriental Weavers Co., Egypt’s biggest carpets manufacturer, plans to invest 200 million Egyptian pounds ($33 million) on expansion projects this year, Al Borsa reported.

The projects include starting the second phase of a production facility in the fourth quarter and increasing by 60 percent the company’s machine-made carpet capacity when completed, the Cairo-based daily said, citing investor relations manager Haitham Abdel-Moneim.

To contact the reporter on this story: Ahmed A Namatalla in Cairo at

To contact the editor responsible for this story: Claudia Maedler at

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