3 New Float Glass Lines - Glass Investment of 145 Million Euros and 180 Million USD in Egypt by 2008, 2009

3 New Float Glass Lines - Glass Investment of 145 Million Euros and 180 Million USD in Egypt by 2008, 2009 In View of the strong growth trends in Middle Eastern markets, Egypt is expected to become the region’s leading glass supplier. 3 new float lines will be built in Egypt by 2008, 2009 to serve rapidly growing demand for float glass from Middle East & Africa countries. According to a report by the Egyptian ministry of Trade & Industry, Eng. Rashid Mohamed Rashid, the minister of trade & Industry has witnessed the sign of the agreement of one of the biggest factory of new float glass line production. This investment is to be operated in a joint-venture between Saint Gobain’s Flat Glass and MMID. The new float line facility will be built in Ain El Sokhna, located 120 kilometers east of Cairo and 40 kilometers south of Suez, along the Red Sea coast, on total area 700.000m2. The overall volume of the investment will be 120 million Euros. Construction is due to start in 2008 and production in 2009 As will as, 2 others float glass lines are scheduled to begin the construction from the end of 2007& production will start in the beginning of 2009; first float glass line will be owned and operated by Yemeni investor “The Egyptian Engineering Co. “with total volume of investment of 180 million USD, located at the Industrial zone of 10 th of Ramadan and the second float glass line will be owned and operated by Egyptian Co. “Trust Group “ with a volume of investment of 25 million Euros which will be the setting up in Ismailia. Output from the 3 new facilities will be sold on the Egyptian market and also exported to the Middle East and Africa countries. With the 3 new float lines, Egypt float glass capacity by 2009 will increase to 1600 tonnes daily with a combined daily production capacity of 400 tonnes .Therefore, the glass processing sector is expected to increase significantly and with it will grow demand for toughening lines, cutting and edging machines and so on. Glass World 2008 is now extensively inviting glass companies from all over the world to book their market share in the Middle East and Africa region through participating in this event, don’t miss this opportunity! Source: the Egyptian Ministry of Trade & Industry, the Egyptian Ministry of Investment, Saint Gobain’s Flat Glass