Arab Finance: Egypt’s Minister of Industry, Khaled Hashem, discussed expansion plans with Saint-Gobain Egypt, including €215 million in new investments in sustainable building materials, as part of efforts to support the green economy and localize advanced manufacturing, as per a statement.

The discussions took place during a meeting with the group’s Egypt CEO, Ahmed Wafik, where both sides reviewed the company’s ongoing and planned projects in the Egyptian market. The group’s total investments in Egypt have more than doubled from €250 million in 2009 to €500 million.

Key projects include two factories scheduled to begin production by September 2026. The first is a specialty glass plant in the Suez Canal Economic Zone (SCZONE), representing €175 million in foreign direct investment and set to be the group’s largest facility in the Middle East and Africa. The plant is expected to produce 900 tons of glass per day for use in the automotive and solar energy sectors, contributing to reducing Egypt’s import bill by around $35 million annually.

The second project is a €40 million gypsum board factory in Sadat City, which is expected to export 60% of its output and create 600 direct and indirect jobs.

During the meeting, Hashem reaffirmed the ministry’s commitment to supporting the group’s expansion plans, highlighting the government’s focus on localizing green technology and manufacturing in the building materials sector, as well as developing industries that supply strategic sectors.

He noted that Egypt’s national strategy prioritizes attracting investments that offer sustainable solutions, reduce environmental impact, and support the transition to a green economy. He also emphasized ongoing efforts to remove obstacles facing foreign direct investment, particularly projects that maximize added value and contribute to localizing strategic industries.

Wafik, in turn, said the Egyptian market remains one of the group’s most important strategic markets in the region, expressing appreciation for the government’s efforts to support foreign investment and create a favorable business environment. He confirmed that the group is proceeding with its expansion plans according to schedule, while maintaining high standards of sustainability and quality, with the aim of supporting the local market and expanding exports to regional and international markets.