Industrial House to set up USD 12 mn gypsum plant in Tech Valley: Industrial House for Building Materials signed an usufruct contract with the Suez Canal Economic Zone (SCZone) to develop a USD 12 mn gypsum factory in East Ismailia’s Technology Valley according to a statement.

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The details: Industrial House will set up a 50k sqm facility featuring three production lines for gypsum boards, plaster gypsum, and plastic packaging bags. The project is expected to create 500 direct jobs. The company plans to allocate 80% of its output for export.

A couple of days back Tech Valley got its first project, a USD 5 mn silicomanganese and ferrosilicon production plant courtesy of India’s Volkov.

QANTARA WEST IS GETTING ANOTHER PROJECT-

United Trade Co for Poultry Equipment will set up a USD 3.3 mn poultry equipment assembly plant in the Qantara West Industrial Zone, according to a statement. The facility will assemble poultry breeding and production line equipment on a 9.8k sqm plot. The project will create 100 direct jobs.

Not the first investment announced in Qantara West this week: Eroglu Garment — a subsidiary of Turkish clothing manufacturer Eroglu Holding — announced earlier this week that it would be investing some USD 120 mn in a new integrated garment factory in the Qantara West Industrial Zone.

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