Arab Finance: Prime Minister Mostafa Madbouly inaugurated the Flex PET Egypt factory for manufacturing polyethylene terephthalate (PET) polyester resin, as per a statement.
Following the inauguration, Madbouly listened to a briefing from Ram Sagar, a board member, who outlined the factory’s operations.
He noted that the facility, built on 125,000 square meters, has an investment cost of $175 million and an annual production capacity of 580 metric tons, creating 850 direct and indirect jobs.
He also reviewed the company’s current and upcoming investments in Egypt.
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