Egypt Kuwait Holding plans soft launch for $120 mln MDF plant soon

Egypt Kuwait Holding will launch the pilot operation for its new medium-density fiberboard (MDF) production line facility in Egypt soon, with investments worth up to $120 million, its chairman said on Sunday.

Loay Jassim Al-Kharafi made these remarks during his meeting with Egyptian Prime Minister Moustafa Madbouly in Cairo, according to a statement posted by the Egyptian Cabinet on Facebook. The meeting, which included other board members at EK Holding, discussed potentials to boost the company’s investments in Egypt.

“We are exploring more opportunities to expand our investments,” Al-Kharafi added. “We will continue investing in Egypt, and are committed to making more expansions.”