Cairo – Mubasher: Saint-Gobain Egypt plans to open two new factories in the Suez Canal Economic Zone (SCZONE) and Sadat City by next September, with a total investment of EUR 215 million.
The first facility is planned to be Saint-Gobain's largest project in the Middle East and Africa, with a foreign direct investment of approximately EUR 175 million.
It aims to produce 900 tons of glass daily for use in the automotive and solar energy industries, contributing to a reduction in the import bill by about $35 million annually.
Located in Sadat City, the second factory will specialize in gypsum board production and export 60% of its output to foreign markets.
With an investment of EUR 40 million, the facility is expected to create 600 direct and indirect jobs.
Minister of Industry Khaled Hashem held an extensive meeting with representatives of the French glass and building materials manufacturer to discuss its future plans in the Egyptian market.
He reviewed the group's investments in Egypt, which have more than doubled from EUR 250 million in 2009 to EUR 500 million currently.
