Mexican glass manufacturer Vitro discussed the construction of a flat and container glass plant in Egypt during a recent meeting with authorities.
The Mexican container and float glass producer wants to invest in a 350,000m2 flat glass factory and a 150,000m2 container glass facility under a free zone framework, with a total investment of $400 million.
The discussion took place in a recent meeting between Vitro CEO, Adrian Sada, Counsellor Mohamed Abdel Wahab, CEO of the General Authority for Investment and Free Zones, and Jose Octavio, Ambassador of Mexico in Cairo.
If approved the investment would lead to the creation of 1500 jobs. The company would export most of its production.
Mr Abdel-Wahab pointed out that it was agreed with the Mexican embassy to encourage more Mexican companies to direct their investments to Egypt, and to increase cooperation with the Mexican side.