Construction Product Holding Company establishes $120m industrial company in Egypt

In a press conference held during the Arab investment forum under the auspices of President Hosni Mubarak, CPC's director, business development and official spokesperson, Dr. Faysal Alaquil announced the establishment of its second company in Egypt, "CPC Holding for Investment-Egypt" a closed joined stock company with an investment capital of $120m. The majority of shares are owned by Construction Product Holding Company (CPC) of Saudi Arabia, with the rest owned by outside investors. The financing for this new company will be handled through local Egyptian banks.

During the press conference, Dr. Alquil presented in details the activities of CPC Industrial Development future plans and current Industrial parks within and outside the Kingdom of Saudi Arabia.

He added that this is the second company established in Egypt since 2007 after the success of CPC-Egypt for Industrial Development Co., in constructing the first private industrial park in Egypt which is developed on an area measuring 1.5 million sq meters in the 6th of October industrial city.

Seven companies with limited liability will be established on the allocated 250,000 sq meters specializing in the following industries: Ready mix, Precast, Metal Buildings, Aluminum, Glass, Furniture and a Paint Factory. These factories combined will create around 2,500 new job opportunities," Dr. Alaquil added.