Jordan’s Assas Concrete Products mulls building $25 bln factory in Egypt

Jordan-based Assas for Concrete Products Co. is studying a plan to build a new factory in Egypt, with investments worth around $25 million, said the Egyptian representative office in Amman on Sunday.

The representative office’s commercial Counsellor Abeer Kamel announced that the office had earlier held meetings with some officials in Assas to discuss pumping new investments in Egypt.

The company had also met with official in the Egyptian Industrial Development Authority (IDA) to allocate a land plot for establishing the factory, Kamel said.

“The Jordan firm expressed keenness to reach a deal with an Egyptian partner to export their concrete products to the Iraqi market,” she said.

Established in 1998, Assas started as a subsidiary of RMCCS, with a capital of $100 million. The company became an independent entity in 2007 responsible for the production of concrete based products.