French Saint-Gobain plans to invest €300M in Egypt during the period from 2024 to 2026 to establish new factories, Minister of Investment and Foreign Trade, Hassan El-Khatib added during his meeting with CEO of Saint-Gobain Group Egypt, Ahmed Wafik.

Wafik explained that a flat glass factory is currently being established in Ain Sokhna with investments amounting to €175 million, and it is scheduled to open in 2026.

El-Khatib added that the company's investments in Egypt currently amount to €160 million, and the value of its exports amounts to €56 million annually.

The CEO of Saint-Gobain expressed the company's keenness to be a major partner of Egypt in achieving its goals of reaching $145 billion annually in exports.

Earlier in March, The Suez Canal Economic Zone (SCzone) signed a framework agreement with Saint-Gobain Glass Egypt to establish a flat glass factory in Ain Sokhna with investments exceeding €160 million, according to a statement released by the Cabinet.

The project targets exporting more than 50% of the project’s products to global markets, in partnership with French Firms.