German Lebanese Company for Paints (GLC Paints), an Egyptian company specializing in various types of oil and water-based paints, has announced plans to invest $25 million in the Egyptian market. The company's CEO highlighted GLC Paints' current total investments of $81 million and $20 million in export volumes. During the prime minister's visit to the GLC Paints factory, the company revealed its expansion strategy, involving over $25 million in new investments expected to create more than one thousand job opportunities. The factory tour showcased GLC Paints' new expansions, including three halls dedicated to export operations, underscoring the company's commitment to international markets.
In addition to GLC Paints, the Prime Minister visited the factory of Italy's Mapei, an adhesives and chemical products company investing approximately $25 million to establish a factory in Egypt with a projected annual production capacity of up to 100,000 tons. These significant investments by GLC Paints and Mapei demonstrate growing confidence in Egypt's economic potential, contributing to local economic growth and fostering collaborations with international partners.