Samcrete’s industrial arm plans doubling business volume

Industrial Development Group IDG, an industrial arm of Egypt-based construction firm Samcrete, is seeking to double its volume of businesses to reach 90 million Egyptian pounds (US$11.4million) by the end of 2016 through developing an industrial zone in East Port Said port.

The company’s Managing Director, Sameh Attia, said that its volume of businesses has recorded 75 million Egyptian pounds by the end of 2015 stressing that it is currently concentrating the implementation of infrastructure works as part of the East Port Said industrial zone development scheme.

Moreover, East Port’s industrial zone is expected to allure several investors worldwide, notably from North European countries, IDG official said. It will encompass areas for heavy and packaging industries.

IDG is a shareholding company with joint Egyptian – German – American investments; 80 percent of which is Egyptian capital, while 70 percent of that is Samcrete investment.