$5M project to manufacture pens, pencils, erasers

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Thu, 20 Jul 2017 - 11:51 GMT

BY

Thu, 20 Jul 2017 - 11:51 GMT

Erasers will be manufactured in Egypt for the first time – CC via Wikimedia Commons/Stilfehler

Erasers will be manufactured in Egypt for the first time – CC via Wikimedia Commons/Stilfehler

CAIRO – 20 July 2017: Samir & Ali Stationary Houses & Co. is studying a project to manufacture pencils, pens, and erasers of $5 million of investments in partnership with a pioneer foreign company which finished the preliminary studies to start by the end of this year.

The announcement was made on Thursday during a meeting comprising Minister Tarek Kabil, CEO of Samir & Ali Co. Walid Shatla, and Head of SMEs Committee Mahmoud Serg.

Kabil stated that the project will create 500 job opportunities, and fulfill a great share of local needs of these products. The target is also exporting to African, Arab, and international markets taking benefit of the trade agreements between Egypt and a great number of countries, and economic coalitions in all continents.

The factory will be established in Upper Egypt because of the competitive advantages it grants to investors such as free lands for industrial projects, and qualified labor.
Shatla said that the factory will be built on an area of 15,000 square meters, explaining that the partner company has been operating in many countries including Indonesia, Malaysia, India, Brazil, Peru, and Turkey.

The project matches the import substitution policy the state has been implementing. For that industry, local production merely covers 15-20 percent of demand in the Egyptian market.

Through that project, erasers would be manufactured for the first time in Egypt as they have always been imported.

The Egyptian market is very promising for such project because of the staggering number of students as up to 40 percent of the Egyptian population below 18 years old.


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