Construction Product Holding Company (CPC) establishes an industrial company in Egypt with a capital of USD 120 million
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Construction Products Holding Company (CPC) announced the establishment of an industrial company with an investment capital of USD 120 million. This new company will comprise of seven factories, each specializing in the production of construction material.
In a press conference held during the Arab Investment Forum, under the patronage of President Hosni Mubarak, CPC’s director, business development and official spokesperson, Dr. Faysal Alaquil announced the establishment of its second company in Egypt , “CPC Holding for Investment-Egypt” a closed joined stock company with an investment capital of USD 120 million. The majority of shares are owned by Construction Product Holding Company (CPC) of Saudi Arabia, and the rest owned by outside investors. The financing for this new company will be handled through local Egyptian banks.
During the press conference, Dr. Alaquil divulged details about the activities of CPC Industrial Development Co., its future plans and current industrial parks within and outside the Kingdom of Saudi Arabia.
He added that this is the second company established in Egypt since 2007 after the success of ‘CPC-Egypt for Industrial Development Co.’ in constructing the first private industrial park in Egypt. The park was developed on an area measuring 1.5 million sq meters in the 6th of October Industrial City.
The seven companies with limited liability will be established on an allocated area of 250,000 sq meters and will specialize in the following industries: Ready mix, Precast, Metal Buildings, Aluminum, Glass, Furniture and a Paint Factory. “These factories combined will create around 2,500 new job opportunities” Dr. Alaquil added.
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