Egypt’s aluminum maker Aluadams clinches $12.6 mln contracts in Q1

Egypt’s newly-established aluminum maker, Aluadams has signed contracts of 200 million Egyptian pounds ($12.6 million) during the first quarter this year, said its chairman on Sunday.

These contracts were signed to supply the company’s products to a number of the ongoing national projects, besides real estate projects in the country’s private sector, Yasser Haron further told Amwal Al Ghad.

Aluadams was founded in 2018, with investments worth 150 million pounds, Haron added. It has a strong partnership with Delemar Group that is one of the leading firms in the production of aluminum profiles in Egypt the Middle East.

“We supply our products to military projects as well as a bunch of construction companies, such as the state-owned Hassan Allam and Orascom,” he said.

The company is currently investing around 100 million pounds to inaugurate a new production line with advanced technology, with a capacity of 700-800 tonnes per month, Haron added.