In a new step towards enhancing its production capabilities and expanding its presence in local and global markets, Kandil Glass has announced the signing of a financing agreement totalling USD 26.7 million in cooperation with Banque du Caire.
This financing will support the company’s capital expansions, most notably the construction of a new glass manufacturing plant in the Ataqa Free Zone, Suez Governorate, Egypt, with a projected production capacity of 100 tonnes per day, in addition to supporting the capital investments of the existing company (CAPEX).
Kandil views this collaboration as a true strategic partnership that supports its vision for sustainable growth, enhances its ability to expand into export markets and contributes to deepening local manufacturing and increasing the added value of the Egyptian industry.
Kandil Glass Group extends sincere thanks to Banque du Caire for its continued confidence in the industrial vision of the Group and looks forward to a new phase of growth, innovation and job creation.