Vietnam's EuroPlas Inaugurates Filler Masterbatch Plant in Egypt
Vietnam's EuroPlas Inaugurates Filler Masterbatch Plant in Egypt

Vietnam's EuroPlas Inaugurates Filler Masterbatch Plant in Egypt

  • 19-Jan-2024 2:40 PM
  • Journalist: Patricia Jose Perez

EuroPlas (EuP), the leading global filler masterbatch manufacturer headquartered in Vietnam, has initiated the first phase of its production plant in Sadat City, Egypt, marking a significant milestone for the company. This venture represents the first entirely Vietnamese investment in Egypt and was officially inaugurated by Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI).

The inaugural phase, established with an investment of $30 million, is projected to achieve an annual capacity of 300,000 tonnes. Filler masterbatch, a crucial component in the production of plastic pipes, bags, and various other plastic products, will be the primary focus of the plant, serving both domestic and international markets.

Hossam Heiba, expressing his views on the occasion, highlighted that the commencement of operations at EuP Egypt not only signifies a momentous event for the company but also opens doors for further Vietnamese investments in the Egyptian market. The collaboration between EuroPlas and Egypt is expected to foster economic growth and strengthen bilateral ties between the two nations.

Chairman of EuroPlas, Hoang Quoc Huy, provided insights into the company's existing operations, revealing that EuroPlas currently manages eight factories in Vietnam, boasting an impressive production capacity of 600,000 tonnes annually and generating revenues of $250 million. The establishment of the plant in Egypt is viewed as a natural extension of EuroPlas's thriving operations in Vietnam, creating opportunities for the transfer of technological expertise and professional know-how to the Egyptian market.

EuroPlas's strategic move to invest in Egypt underscores the company's commitment to expanding its global footprint and meeting the increasing demand for filler masterbatch in diverse markets. The utilization of advanced technology and professional practices from EuroPlas is expected to contribute not only to the success of the Egyptian plant but also to the enhancement of the local industry's capabilities.

This collaborative initiative aligns with broader trends in global investments, highlighting the interconnectedness of economies and the pursuit of mutually beneficial partnerships. As EuroPlas extends its reach to Egypt, it signifies a positive step towards strengthening economic ties and fostering cross-cultural collaboration between Vietnam and Egypt.

EuroPlas's inauguration of the first phase of its production plant in Egypt marks a significant development for the company, symbolizing its entry into the Egyptian market and the commencement of the first wholly Vietnamese investment in the country. This venture not only positions EuroPlas as a key player in the global filler masterbatch industry but also facilitates the exchange of technological expertise and professional practices between Vietnam and Egypt. As the plant becomes operational, it is poised to contribute to the growth of the local economy, meeting the demand for plastic products in both domestic and international markets.

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