Egyptian Indian partnership launches $110 mln factory in Ain Sokhna

Muhammad Khaled, Sunday 9 Apr 2023

Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), witnessed the unveiling of the cornerstone for the Indian Flex-Egypt factory project, with $110 million investments, in Ain Sokhna, according to an official statement on Sunday.

Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone. SCZONE

The project is located on an area of 250,000 square metres in the industrial zone in Sokhna within the scope of the industrial developer Orascom for Industrial parks.

It specialises in the production of polyethylene (PET).

The new factory is planned to have a production capacity of 30,000 tons per month.

It is scheduled to be implemented in two phases over two years.

The first phase starts during the first half of 2024 and provides more than 700 direct and indirect job opportunities.The second phase will be executed in mid-2025.

“We appreciate the presence of Indian investments in the industrial zone in Sokhna, and the presence of the Flex factory within the industrial developer Orascom for Industrial Zones, as Flex is one of the largest Indian companies working in this field," Gamal El-Din said.

For his part, Sanjay Tiko, Executive Director of Flex Egypt, stated that “Flex PET company has been in the Egyptian market for years and the company targets to export its products from SCZONE. We also have a presence within some European countries, the United States of America, Russia, and Mexico”.

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