Qabil: Major Indian company pumps EGP 300m investments in chemical industrySource: www.export-egypt.com 9/3/2016, Location: Africa |
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Minister of Trade and Industry Tarek Qabil resumed his meetings with major Indian companies having investments in Egypt on the fringe of President Abdel Fattah El Sisi's visit to New Delhi.
The minister met with the board chairman of Mansoura-based resins and chemical industries company. The company is exporting its products to European and African markets, said a statement released by the Ministry of Trade and Industry . The minister said the company said it will invest more EGP 300 million in the chemicals field, added the statement. He also met with Youssef Ali, the Board Chairman of India Lulu Group of Companies. . The meeting took up the company's plans to make expansions in Egypt and establish two new branches of its retail markets as it is currently employing 3,500 workers. The total value of the group's exports in 2016 hit EGP 200 million. . The minister also met with officials in Adetya Birla company which is specialized in carbon black. It is based in Alexandria. . The two sides discussed plans to increase company exports as the total value of its exports to Europe hit dlrs 200 million annually targeting the European market. They also reviewed a number of challenges facing the company in Egypt. The minister pledged to remove such hardships. |
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