A new investment from Saint-Gobain: French glass and building materials manufacturer Saint-Gobain has filed a proposal to set up a new USD 40 mn glass factory in the Sadat City, according to a cabinet statement. The entire investment will be funded from abroad, the statement adds.

This will be the fourth glass plant Saint-Gobain sets up in Egypt, following a EUR 175 mn factory — powered by a solar plant that will produce 10-MW worth of green power — in the Sokhna Industrial Zone, that the French glass maker broke ground on in March.

These two plants roughly make up the USD 200 of investments already given the greenlight, but the French company is eyeing an additional USD 100 mn of investments that it is hoping to channel into the country over the next three years, a company representative added.

Saint-Gobain is no stranger to Egypt: The company’s flat glass production line in the SCZone is the largest float glass facility in the Middle East and it also owns two building materials factories in Sadat and Amreya worth more than EUR 150 mn. The company also purchased 100% of United Paints and Chemicals (Drymix) last year from Orascom Construction subsidiary United Holding Company in a EGP 785.3 mn transaction.

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