CAIRO – 19 November 2023: The International Company for Insulation Technology (INSUTECH) is set to strengthen its foothold in the Egyptian market with a significant investment of EGP 400 million.
The company plans to establish new buildings and production lines, a move that will not only boost its operations but also generate numerous employment opportunities for young individuals.
The announcement was made during the extensive tour of various companies and factories in the cities of Obour and 10th of Ramadan by Prime Minister Mostafa Madbouly. As part of his visit, Madbouly inspected INSUTECH's factory located in the 10th of Ramadan city, where he was briefed on the company's expansion plans.
Ahmed Bakry, Chairman of INSUTECH, emphasized the company's longstanding commitment to producing top-quality building materials and thermal insulation for over 35 years. With a total investment of EGP 800 million, INSUTECH currently owns and operates four factories spanning over an area of nearly 80,000 square meters.
Bakry highlighted the substantial growth in the volume of INSUTECH's exports, with a majority of its business now focused on international markets. Currently, approximately 70% of all bitumen sales are exported to over 100 countries worldwide, solidifying the company's global presence.
In addition to INSUTECH, Prime Minister Madbouly also visited the International Company for Agricultural Development (Farm Frites Egypt) located in the 10th of Ramadan city.
Over the past four years, the company has invested more than $100 million in expansions, resulting in a workforce of 850 dedicated employees and workers. Farm Frites Egypt exports its products to 40 countries with annual exports exceeding $250 million.
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