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Tuesday, 11 February 2020

UAE’s Corys looks to expand into water and gas networks in Egypt

Emirati pipe manufacturers Hepworth PME is seeking to capture 15% of Egypt’s water and gas distribution market over the next five years and sees growth potential in the country’s infrastructure sector, General Manager Richard Nakhla told Mubasher. Parent company Corys Investments announced a joint venture last week with GF Piping Systems, a division of Georg Fischer, and Egypt Gas to build a facility for plastic pipes and fittings near Cairo for the domestic market, with production to begin in 2021. Corys and GF will share a 75% stake equally, with Egypt Gas taking the remaining 25% stake.

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