Egypt’s Agawany for Industrial Machines planning metal moulding machine factory

Agawany Group’s El Agawany for Industrial Machines is planning to set up a factory to manufacture metal moulding machinery at Port Said’s Sharq at Tafriah at a cost of EGP 500 mn, said Vice Chairman Hamada Agawany. The company is expecting to break ground on the project next year and begin operations by 2022 in partnership with an unnamed foreign investor. The factory will produce 250 machines each year, 80% of which will be exported to Europe and Africa, Agawany said. The company is also planning to inaugurate a separate aluminum machinery factory within two months, he added.