Orascom IP signs $120 mln deal with India's Flex Accipto to expand plant in SCZONE

Ahram Online , Tuesday 20 Jun 2023

The Egyptian giant Orascom Industrial Parks signed a $120 million deal with the Indian packaging solutions company Flex Accipto to expand its plant in Sokhna within the Suez Canal Economic Zone (SCZONE).

Chairman of the SCZONE Walid Gamal El-Din witnessed the signing of the deal between representatives
Chairman of the SCZONE Walid Gamal El-Din witnessed the signing of the deal between representatives of the Egyptian and Indian sides on Tuesday 20 June 2023

 

The expansion project will be carried out on an area of 150,000 square metres, according to a statement released by the SCZONE on Tuesday.

Chairman of the SCZONE Walid Gamal El-Din witnessed the signing of the deal between representatives of the Egyptian and Indian sides.

Flex Accipto is a subsidiary of UFlex Group, which is India's largest multinational flexible packaging and solutions company.

The company manufactures high-quality packaging products and containers for dairy products, juice derivatives, and others, with a production capacity of 120 million packages annually.

The deal reflects growing economic cooperation between Egypt and Indian companies, read the SCZONE statement. 

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