Chinese Aluminium Paneling Firm to Open Plant in Egypt
24 January 2017 by Staff
Egypt’s Minister of Industry and Trade Tarek Kabil recently announced plans for a leading firm from the People’s Republic of China to build an aluminium-paneling factory in his country.
Guangzhou Goodsense Decorative Building Materials Co., Ltd. will build the plant, which Kabil characterizes as a joint venture among Egypt, China, and Saudi Arabia, north of the Gulf of Suez within the Ataqa industrial zone. It will produce aluminium plates to be used for façades on local buildings. The plant’s capacity is expected to fill the lion’s share of local demand, and a portion of the production will be reserved for export.
Kabil went on to say that the US$100 million project has been allocated 172,000 ft2 in the Ataqa industrial zone. The first plates are slated to roll off the four planned assembly lines within nine months of the commencement of construction.
Goodsense is eager to take advantage of Egypt’s significant consumer base and participation in several free-trade agreements, Kabil explained. Among the more important agreements the firm hopes to take advantage of is The Common Market for Eastern and Southern Africa (COMESA). Goodsense will have the ability to trade with twenty states on the African continent on a customs-free basis that it has previously been required to tender significant customs fees to access.
Well Bond, an Egyptian-Saudi Arabian firm that produces aluminium composite panels, is the other company partnering in the project. It produces 600,000 m2 of paneling per annum, which accounts for between 8% and 9% of the country’s demand. The firm also exports significant quantities of product to Saudi Arabia.