Volume 43, Issue 2 - February 2008

Global Update

Egypt Gains Two Float Glass Lines 
Through MENA Glass and Saint-Gobain

MENA Glass, through its fully-owned subsidiary Sphinx Glass, signed a Ä97 million (USD $142 million) agreement in January with Italian contractor Ianua SPA for the engineering, plant construction, assembly and supervision of a new greenfield float glass manufacturing facility in Sadat City, Egypt. MENA Glass is a company established by Citadel Capital and a group of regional investors to pursue investments in the Middle East and North Africa (MENA) glass industry. 

The 220,000-square-meter factory will have a production capacity of 600 tons of glass per day and will sell to both the local and export markets. 

The plant will have the capability to produce glass with thicknesses varying between 2- and 19-mm. Tarek Salah, managing director of projects at Citadel Capital, expects the factory to create 200 new jobs when it becomes operational. 

In addition, Saint-Gobainís flat glass division has decided to expand its presence in the region with the construction of a float glass production line in Egypt. The facility will be operated in a joint venture founded with El Mansour and El Maghraby Investment and Development Co. (MMID), an Egyptian group involved in real estate and industry. 

The float line will be built in Ain El Sokhna. Output from the new facility will be sold on the Egyptian market and also exported to the Middle East and Africa. 

The overall cost of the investment will be approximately EUR 120 (USD $176) million. Construction of the facility is due to start in 2008, with production scheduled to begin in 2009. www.saint-gobain.com 

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