Italian Mapei completes first phase of its $25M factory



Sun, 19 Nov 2023 - 04:46 GMT


Sun, 19 Nov 2023 - 04:46 GMT

CAIRO – 19 November 2023: Italy’s Mapei invests about $25 million to establish a factory in Egypt with a production capacity of up to 100 thousand tons annually. This came during Prime Minister Mostafa Madbouly’s inspection of Mapei’s factory during his tour to visit factories on the 10th of Ramadan City and El Obour City.

The Regional Area Manager Middle East & East Africa at Mapei, Andrea Perini said that the factory extends over an area of 28,000-meters established on two stages with a total investments of 25 million dollars stating that the first stage of the factory was finished. The factory is scheduled to open next year.

Perini asserted that the factory employed 100 workers, highlighting that the production capacity of the factory is 100 tons annually.

Madbouly highlighted Egypt’s keenness to deepen local production and encourage and empower the private sector, pointing out that the Egyptian market is huge and encourages pumping investments in it.

Earlier this year, The Central Agency for Public Mobilization and Statistics (CAPMAS), said that the trade volume between Egypt and Italy increased in 2021 by 29 percent to reach $5.8 billion compared to $4.5 billion recorded in the previous year.

Moreover, Italian investments in Egypt increased by 40.3 percent during the first quarter of the financial year of 2021/22, reaching $448.8 million.



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