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Tuesday, 27 September 2016

Medco Plast to build EGP 115 mn plastics factory in Six October

Medco Plast is planning to build a EGP 115 mn plastics manufacturing factory in Sixth of October, Managing Director Mohamed Samaha said, Al Mal reported. The factory has a targeted production capacity of 25k tons per year, with 50% of its capacity set to be exported to African countries. It is expected to begin operations in 2017. The firm also has plans to float some of its shares on the bourse in 1Q2018, Samaha added, providing no further details. Medco Plast is 40% owned by Al Samaha Company, while Middle East Glass and Gulf Capital both have a 30% share in the company.

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