Prime Minister Mostafa Madbouly attended the inking ceremony of a framework agreement between the Suez Canal Economic Zone (SCZONE) and Saint-Gobain Glass Egypt to establish a flat glass production plant in Ain Sokhna.
The deal is the outcome of efforts exerted by the SCZONE, a distinguished economic hub, to enhance investments and achieve sustainable development.
The agreement also sets a framework for future cooperation between the two sides.
The plant will be built within Ain Al-Sokhna Industrial Zone, northwest of the Gulf of Suez, over an area of 200,000 square meters and with foreign direct investments exceeding 160 million euros.
If everything works according to plan, the factory will export more than 50 percent of its production to the global markets.
