CAIRO – 29 August 2024: French company Saint-Gobain is set to invest €300 million in Egypt between 2024 and 2026 to build new factories, as announced by Minister of Investments and Foreign Trade, Hassan El-Khatib, during his meeting with Saint-Gobain Group Egypt's CEO, Ahmed Wafik.
Wafik disclosed that a €175 million flat glass factory is currently under construction in Ain Sokhna, scheduled for completion in 2026.
El-Khatib mentioned that Saint-Gobain's current investments in Egypt stand at €160 million, with annual exports valued at €56 million.
The CEO of Saint-Gobain emphasized the company's commitment to being a significant partner in Egypt's ambition to achieve $145 billion in annual exports.
In March, the Suez Canal Economic Zone (SCzone) inked a framework agreement with Saint-Gobain Glass Egypt for a flat glass factory in Ain Sokhna, with investments exceeding €160 million, aiming to export over 50 percent of the products globally in collaboration with French firms.
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