AIND plans to invest EGP 10 mn to set up three new production lines in tile, cement bricks factories

Arabia Investments, Development, and Financial Investment Holding Company (AIND) is planning to invest EGP 10 mn in setting up three new production lines in its tile and cement bricks factories in Alamein and Abu Rawash, according to Chief Investment Officer Rania Afifi. The company plans to inaugurate two lines in the Alamein factory in August and December 2018, and the third line in the Abu Rawash factory by mid-May 2019. The three new lines, which will be financed through the CBE’s SMEs lending initiative, are expected to raise the company’s sales 50%.