The Arab Swiss Engineering Company is to build three new cement factories in New Suez Canal axis with Saudi-Lebanese investments worth $900 million, reports Youm7.
General Secretary of the Saudi-Egyptian Business Association Ahmed Darwish told Youm7 that the establishment of the three factories is to be completed by mid-2016.
The three factories include a gypsum powder factory and another for gypsum boards production, according to Darwish.
The Arab Swiss Engineering Company is one of Citadel Capital’s companies for investment in the Middle East and North Africa region, with investments in cement, engineering, food, energy and construction.
Arab Swiss Engineering Company operates ten cement factories in Egypt, about a quarter of cement production capacity in Egypt.