Egyptian-Kuwaiti pool of investors to set up new cement factory in Minya

Egyptian-Kuwaiti pool of investors to set up new cement factory in Minya
Published: 15 October 2008

A pool of Egyptian-Kuwaiti pool of investors are to set up a new factory in Minya. The Egyptian investors will hold 71.4 per cent of the ownership (or LE 70m paid in capital) while their Kuwaiti counterpart will get 28.6%. The factory is scheduled to start production by mid 2009.

The new facility is expected to produce around 900,000t each year, of which 65% will be directed to foreign markets (35% of the new plant capacity will be allocated to the domestic market).

’The Egyptian Ministry of Trade and Industry approved the establishment of a new cement factory in Minya with initial investment cost of LE 150m (US$27.4m) and paid in capital of LE70m ($12.7m). [...] A plot of land with total area of 21,000 square meters in Minya has been allocated for setting the new plant.