Austria’s Kronospan, a leading manufacturer of wood-based panels, will establish a factory in Egypt to produce flooring and medium density fiberboard (MDF), Zawya reported (9-5-23), citing a press release from Egypt’s Industrial Development Authority (IDA).
Kronospan will initially invest $50 million in the project. In addition, the statement said that Kronospan officials have held talks with IDA Chairman Mohammed Abdel Kaarim for the allocation of 100,000 square meters of land in Sadat City or the 10th of Ramadan city for the project.
The statement also indicated that the factory’s production will be for domestic demand as well as exports to African markets, Zawya said.
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