Egypt’s Industry Ratifies Establishing 8 Paper Mills
The Egyptian Ministry of Industry and Foreign Trade has approved constructing 8 new factories in paper sector, at EGP 14 million investments. These factories are in several industrial zones; like 10th Ramadan City, 6th October City.
Reliable sources in the ministry told “Amwal Al Ghad” that the average annual production of these investments reaches EGP 21 million, and provide 120 direct job opportunities, in addition to scores of indirect job opportunities.
The sources added that the exports of the Egyptian paper sector recorded as to EGP 2.5 billion from January to October 2012, dived by 10%; in return for EGP 2.8 billion at the same period of 2011.
For his part, Ayman Reda, General Secretariat of 10th Ramadan Investors Association, MD of Dice Pack Company, asserted that the paper industry in Egypt may witness a quantum leap in the coming period, whereas a number of foreign investors will strongly compete on the this sector in the Egyptian market.
