Mapei, an Italian company that manufactures chemical products for the building industry, is investing approximately $25 million to establish a factory in Egypt, boasting an annual production capacity of up to 100 thousand tons. The factory, situated in the 10th of Ramadan City and El Obour City, covers 28,000 square meters and is being developed in two stages. The first stage has already been completed, with the facility set to open next year. Employing one hundred workers, the factory aims to contribute significantly to local production. The prime minister emphasized Egypt's commitment to fostering domestic production and supporting the private sector, acknowledging the substantial potential of the Egyptian market.
The Regional Area Manager of Middle East & East Africa at Mapei provided insights into the project, highlighting the economic and employment impact. Egypt and Italy have experienced a notable increase in trade volume, with a 29 percent surge in 2021, reaching $5.8 billion. Concurrently, Italian investments in Egypt grew by 40.3 percent in the first quarter of the 2021/22 financial year, totaling $448.8 million.