The official opening of of Saint-Gobain Glass Egypt Plant in Ain Sokhna, was announced by Prime Minister Dr. Ahmed Nazif, Eng. Rachid Mohamed Rachid Minister of Trade and Industry, General. Mohamed Se…
The official opening of of Saint-Gobain Glass Egypt Plant in Ain Sokhna, was announced by Prime Minister Dr. Ahmed Nazif, Eng. Rachid Mohamed Rachid Minister of Trade and Industry, General. Mohamed Seif El Din Galal Governor of Suez, in the presence of M. Pierre-Andre de Chalendar, Chairman and CEO of Saint-Gobain, M. Yacine Mansour and M. Ali Moussa Chairholders, and other guests from Egypt, France and Turkey. This is the 35th float line of Saint-Gobain group, and is the largest and the most modern float plant in the Middle East and Africa, and for the group, as well as a strategic investment in emerging countries. Located 120 kilometres east of Cairo and 40 kilometres south of Suez, the line started production in July 2010 after 28 months of construction work, and capital expenditure amounting to EUR 130 million – the highest sum ever invested by Saint-Gobain in this region of the world. The investment was carried out under the auspices of Saint-Gobain Glass Egypt, a joint-venture between Saint-Gobain Glass, majority shareholder (51%), and three other partners: Egyptian holding MMID (Mansour-Maghraby Investment and Development) associated with M. Ali Moussa (34%), and Sisecam (15%). This facility, covering a surface area of 75 hectares, with a capacity of 900 tons/day, will essentially meet the domestic demand for flat glass. The remaining 50% will be exported, mainly towards the Middle-East (Lebanon, Syria, Jordan) and Africa.