In a statement, Haroun stated that the company will begin constructing a factory for processed glass in 2022 with total investments of EGP 750 million following the construction of another factory in the Sixth of October Industrial Zone with an annual productive capacity of 600,000 sqm.
In 2023, the company is considering doubling the factory’s capacity as well as going public under an initial public offering (IPO) programme in the Egyptian Exchange (EGX), according to Haroun.
“Egypt is one of the best markets in the Middle East due to the mega projects that are being constructed in the country and the economic and political stability it enjoys. Moreover, the government extends incentives for investors in the industrial sector that aim to stimulate the sector’s production, which reflects the interest the state attaches to improving it,” Haroun explained.
Delmar was established in 2008 and began production in 2012. It operates six factories for aluminium profile production.
It is also an Egyptian joint stock company S.A.E with a capital worth EGP 100 million with a production capacity estimated at 20,000 tonnes annually.
Egypt’s aluminium and its associated manufactured exports in 2021 jumped to $635 million, up by 44 percent from 2020, according to the Export Council for Building, Refractory, and Metallurgy Industries.