A 200-million Egyptian pound ($51.5 million) aluminum sheet plant is currently under construction in the October 6th City, according to Jalal Abdul-Fattah, a board member of the city’s investors association.
The factory will have a production capacity of 20,000 tons of aluminum annually, 60 percent of which will be exported to Arab, African and Western markets, according to Algomhuria daily.
Capital for the project is being supplied solely from Egyptian sources, while American, Swiss and German sources are providing market expertise.
The new factory will join other local manufacturing plants in the aluminum industry, such as the Egyptian Aluminum Company, located in Naga Hammadi, which currently produces some 193,319 tons of aluminum per year, and hopes to raise its production level to 300,000 over the next seven years. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)
© 2000 - 2019 Al Bawaba (www.albawaba.com)