Egyptian Chamber of Printing and Packaging Industries is currently negotiating with the India over establishing paper factory with Indian-Egyptian investments worth US$250 million, chairman Khalid Abdo said Tuesday.
Speaking to Amwal Al Ghad , the chairman stated that the new factory is set to be established in Nag Hammadi within two years. It will be located besides sugar factories to make use of their wastes and set to operate with capacity estimated at 200,000 tonnes annually.
Abdo made these remarks during a press conference held Tuesday about launching P4 Expo India exhibition.
He noted that the chamber is in talks with the General Authority for Free Zones and Investment (GAFI) and Industrial Development Authority (IDA) over allocating a land for the project.
The head added that there were great cooperation between the Egyptian and Indian sides within the last period since Indian technologies and expertise have been shared with the Egyptian side as well as enhancing the Indian investments in Egypt.
The Indian investments in the Egyptian packaging field are expected to be increased notably after announcing the Suez Canal Axis Development project that will boost the demand for packaging materials, the official clarified.
