According to reports, Egypt is setting up a new aluminium factory in Ataqa Industrial Zone, north of the Gulf of Suez.

Tarek Kabil, Egypt’s minister of industry and trade, announced that a major Chinese company will establish the new factory to manufacture aluminium plates that cover buildings facades.

The project will be a joint venture between Egypt, Saudi, and China with a capital of $100m.

The factory’s production would meet a large portion of the local market’s needs and a portion of its production would be allocated for exporting.

Approximately 1.6ha have been allocated in the industrial zone in Ataqa to start the factory’s construction.