Saudi-based Construction Materials Holding Co. (CPC) is planning to inject $80 million worth of fresh investments in the Egyptian market through constructing three plants.
Riyad Kywan, executive director for operations, CPC, said his company will build an aluminum plant at an investment cost of $40 million, a glass coloring plant at $15 million and a construction aluminum plant at $20 million.
The company is also planning to acquire an Egyptian construction company, with the aim of bolstering its foothold in the local market.
CPC signed on Tuesday a EGP 816 million agreement to fully acquire Sphinx Glass, a subsidiary of Qalaa Holdings.
Riyad Kywan, executive director for operations, CPC, said his company will build an aluminum plant at an investment cost of $40 million, a glass coloring plant at $15 million and a construction aluminum plant at $20 million.
The company is also planning to acquire an Egyptian construction company, with the aim of bolstering its foothold in the local market.
CPC signed on Tuesday a EGP 816 million agreement to fully acquire Sphinx Glass, a subsidiary of Qalaa Holdings.
Source:
Mubasher
