Construction Products Holding Company has announced the establishment of an Industrial Company with an investment capital of USD 120 million with 7 factories specializes in construction material in Egypt.

Mr Faysal Alaquil, director of business development & spokesperson of CPC, in a press conference held during the Arab Investment Forum under the auspices of Mr Hosni Mubarak President of Egypt, announced the establishment of its second company in Egypt, CPC Holding for Investment Egypt, a closed joined stock firm with an investment capital of USD 120 million. The majority of shares are owned by Construction Product Holding Company of Saudi Arabia, with the rest owned by outside investors. The financing for this new firm will be handled through local Egyptian banks.

Mr Alaquil added that this is the second company established in Egypt since 2007 after the success of CPC Egypt for Industrial Development Company in constructing the first private Industrial Park in Egypt which is developed on an area measuring 1.5 million square meters in the 6th of October Industrial city.

Mr Alaquil further said that “Seven companies with limited liability will be established on the allocated 250,000 square meters specializing in the following industries: ready mix, pre cast, metal buildings, aluminum, glass, furniture and a paint factory. These factories combined will create around 2,500 new job opportunities.”