India’s Uflex is planning to build a new chemicals plant in Egypt with total investments of $30 million, according to a statement by the cabinet.
The announcement took place during Prime Minister Moustafa Madbouly’s inauguration of a new plastic films production line yesterday at the company’s $100 million Sixth of October factory, the first of its kind in the Middle East and North Africa (MENA) region.
The plastic packaging manufacturer has so far invested $200 million in its Egypt operations.
The company produces 125 tonnes of plastics per year from its Sixth of October factory, and exports 60% of its production to 60 countries, bringing in $190 million per year.
Founded in 1983, Uflex is a leading Indian Multinational focusing on innovation to create differentiation, proximity to customers and holistic end-to-end flexible packaging solutions.
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