Prime Minister Moustafa Madbouly inaugurated two Indian companies in the Ain Sokhna integrated industrial zone, a key area within the Suez Canal Economic Zone (SCZONE).
Madbouly was accompanied by the Deputy Prime Minister Mr. Kamal El Wazir, Minister of Planning, Economic Development, International Cooperation Ms. Rania al-Mashaat, and Minister of Finance Mr. Ahmed Kouchouk among other senior dignitaries.
Ms. C. Sushma, Charge d’Affaires at the Embassy of India in Cairo welcomed the high level delegation.
The Abdos FMCG plant, which spans 50,000 square metres, has an annual production capacity of 50,000 tons and provides 350 direct and indirect jobs.
The facility produces a range of cosmetic products, including shampoos, creams, and soaps, with exports reaching multiple countries.
The project was completed in a record time of 10 months, from December 2023 to October 2024.
The plant has started production and would be expanding to its second phase by June 2025.
Representatives from ABDOS gave a presentation to the delegation and displayed their products destined for exports to EU and USA.
Furthermore, the delegation led by PM Madbouly inaugurated the manufacturing plant of Flex Films Egypt.
The manufacturing facility, built on 125,000 square meters area, has an investment cost of $175 million and an annual production capacity of 580 metric tons, creating 850 direct and indirect jobs.
The Prime Minister also reviewed the company's current and upcoming investments in Egypt. This is the second investment venture of Flex group in Egypt, which has plans to expand further.
Overall, investment by Indian companies in Egypt is over $4 billion. Several Indian companies have their manufacturing base in Egypt in sectors like chemical, apparel, industrial goods, pharmaceuticals, FMCG, paints and packaging material among others. These companies account for over $ 1 billion in exports and provide direct and indirect employment to 38000 Egyptians.
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