EKHO opens new factories in Egypt with EGP 1.4bln investments

Egypt Kuwait Holding Company (EKHO) announced on Saturday opening and developing factories in Egypt at 1.4 billion Egyptian pounds through its wholly owned unit Sprea Misr which is listed on both the Egyptian and Kuwaiti bourses.

Sprea Misr opened a factory for sulfuric acid production which operates at a capacity of 165,000 tons a year and 80 percent of the output will go to Alexandria Fertilizer Plan, Sherif El-Zayat, EKHO CEO, said.

El-Zayat said that Sprea Misr opened six new production lines, including one that makes three million Formica boards a year for export, and boosted the capacity of some existing factories.

Egypt Kuwait Holding Company (EKHO) was established on July 20, 1997, and listed on the Egyptian Exchange (EGX) in January 1999 and on the Kuwait exchange in December 2001.