CAIRO: Private equity firm Citadel Capital announced Sunday the start of commissioning at its 220,000-square-meter greenfield float glass factory, according to a statement.
With a production capacity of 600 tons per day, the LE 1.1 billion facility is one of Egypt’s largest producers of float glass, the firm said.
Sphinx Glass is 51 percent owned by GlassWorks, a platform company established by Citadel Capital, and a group of co-investors to pursue opportunities in the glass manufacturing industry. Dubai Group holds the remaining 49 percent.
The new factory, which broke ground in October 2008, is being licensed by PPG Industries, a global manufacturer of float glass, and the contractor for the factory is Ianua S.p.A.
Sphinx Glass will supply the local market with float glass and export to the Middle East and Africa. In addition to clear float glass, Sphinx will be the first factory in Egypt and North Africa to produce colored and coated float glass, the firm said, mostly going to the automotive and construction industries.
Minister of Trade and Industry Rachid Mohamed Rachid visited the factory in Sadat City on Sunday, accompanied by Amr Assal, chairman of the Industrial Development Authority; Sherif El-Gabaly, chairman of the Chamber of Chemical Industries; and Adham Nadim, executive director of the Industrial Modernization Center. –Daily News Egypt
