Vietnam’s EuroPlas (EuP), the world’s leading filler masterbatch manufacturer, opened the first phase of its factory in Egypt’s Sadat City.
The project – the first 100% Vietnamese investment in Egypt – was inaugurated by Hossam Heiba, President, General Authority for Investment and Free Zones (GAFI), the principal governmental authority concerned with regulating and facilitating investments in Egypt. The launching ceremony also included Hoang Quoc Huy, Chairman of EuP, Nguyen Huy Dung, Vietnamese Ambassador to Egypt, and Moataz Baha El-Din, CEO at CPC Industrial Development Company – developers of CPC Sadat City industrial park.
Covering an area of 34,000 square metres, EuP’s Egyptian unit specializes in the production of filler masterbatch which is commonly used in the process of making plastic products. Filler masterbatch is widely used in the plastic industry as a solution to help save production costs, improve several properties of end-products, increase stability in the manufacturing process, and enhance printability and surface quality of finished products. EuP’s masterbatch is a tailor-made solution combining calcium carbonate (CaCO3), plastic resin beads, and plastic additives.
The first phase of the facility has been set up at an investment of $30 million, and when fully operational, is expected to have a total of 24 production lines with an annual output of around 3,00,000 tonnes, catering to the needs of both domestic and export markets.
Appreciating the significance of the project, GAFI President Heiba said that the start of operations at EuP Egypt demonstrated the efforts of the Egyptian government to attract foreign investors, particularly Vietnamese investments into the Egyptian market.
EuP Chairman Huy added that the investment in EuP Egypt was an important step in the company’s expansion strategy and was a symbol of cooperation and development between Vietnam and Egypt, bringing employment opportunities and added value to the local community.
The Hanoi headquartered company currently operates seven factories in Vietnam with a production capacity of 6,00,000 tonnes per annum and a revenue of $250 million.
