OUTSOURCING-

Global outsourcing firm Foundever inaugurated a new customer experience center in Luxor, its first in Upper Egypt and third in the country, according to a statement from the CIT Ministry. The center employs 240 people and is expected to reach 400 by 2026 as part of Foundever’s plan to expand its 2k-strong Egypt workforce to 5k within three years.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

LOGISTICS-

Denmark-based Scan Global Logistics launched a new head office in Cairo, as part of a growth initiative targeting the Middle East, North Africa, and Turkey, according to a statement from the company. The firm — which also has regional presence in the UAE’s Jebel Ali and Saudi Arabia’s Jeddah and Riyadh — said the move comes on the heels of the promising growth potential of Egypt’s warehousing market.

REMEMBER- Egypt’s local warehousing market is forecast to grow at 7% y-o-y over the next five years amid rising demand driven by new industrial zones and expanding e-commerce operations, according to forecasts from Egyptian Global Logistics.

MANUFACTURING-

French glass and building materials manufacturerSaint-Gobain plans to double its exports from Egypt to African markets to reach EUR 120 mn annually, according to a statement from the Trade Ministry’s Egyptian Commercial Service. The expansion will be driven by the opening of a new EUR 200 mn factory in Ain Sokhna focusing on sustainable building materials. The company currently exports around EUR 60 mn worth of products a year and has total investments of EUR 250 mn in Egypt.

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

Tags: