(VOVWORLD) -Vietnam's European Plastics Joint Stock Company (EuP) has inaugurated a factory specializing in producing filler masterbatch in Sadat city, Menoufaya province of Egypt, marking the first factory of a Vietnamese enterprise in the Middle East country.
 Vietnamese Ambassador to Egypt Nguyen Huy Dung (second from right) and Chairman of the Egyptian Investment Management Authority and Processing Zones Hossam Heiba (third from right) cut the ribbon to inaugurate the factory. (Photo: VNA) |
The EuP Egypt factory was built on an area of more than 34,000 sq.m with an investment of 30 million USD. It is designed to have 24 production lines with a total capacity of 300,000 tonnes a year, creating jobs for more than 300 local workers. Its products will serve the Egyptian market and exports to the Middle East, Africa, Europe and America.
Speaking at the inaugural ceremony on Monday, Hoang Quoc Huy, Chairman of the Board of Directors of EuP, said the EuP Egypt factory is an important step in the company’s expansion strategy, adding that it is a symbol of cooperation and development between Vietnam and Egypt.