Kuwaiti company looking to establish EUR 480 mn pipe factory in Egypt

An unnamed Kuwaiti company is looking to establish a EUR 480 mn pipe factory in Egypt, and has presented the necessary studies on the factory to the Industrial Development Authority (IDA) for review, Youm7 reports. IDA head Ahmed Abdel Razek had met with a delegation of businessmen from an association of Gulf businessmen promoting investments in Egypt. The association is planning to hold a conference to promote GCC investments in Egypt on April 22.