Arab Finance: Egypt’s Prime Minister Mostafa Madbouly inaugurated the Borex Glass Co. factory in the Ain Sokhna Industrial Zone, with investments ranging between $6 million and $8 million, as part of his tour of projects within the General Authority for the Suez Canal Economic Zone (SCZONE), as per a statement.

The facility, located within the TEDA–Egypt industrial developer area, specializes in manufacturing heat-resistant household glass products using borosilicate technology.

The inauguration was attended by several officials, including Hussein Eissa, Deputy Prime Minister for Economic Affairs; Mohamed Farid, Minister of Investment and Foreign Trade; Ahmed Rostom, Minister of Planning and Economic Development; Khaled Hashem, Minister of Industry; Hani Rashad, Governor of Suez; and Waleid Gamal El-Dien, Chairman of the SCZONE.

During the visit, the prime minister listened to a presentation by Yasser Ozturk, Chairman of Borex Glass. Madbouly said the project reflects the state’s focus on supporting specialized, high-value-added industries and increasing reliance on local components in manufacturing, noting that this approach contributes to building a competitive industrial base capable of competing in global markets.

He added that Egypt is prioritizing the attraction of quality industrial investments that support export growth and reduce imports, particularly in sectors that add value to the national economy.

Madbouly toured the facility and held direct discussions with employees about their roles, wages, and living conditions, including the availability of suitable housing. Workers said they are satisfied with the work environment, highlighting fair wages and access to ongoing training and development programs.

Ozturk said the factory is built on an area of 20,000 square meters and has an annual production capacity of up to 9,000 tons. He added that the project is the first of its kind in the Middle East, Africa, and the Arab world in the production of heat-resistant household glass.

Additionally, Ozturk noted that more than 90% of the factory’s production inputs are sourced locally, primarily from high-quality Egyptian silica. The plant is targeting the export of over 70% of its output to international markets, contributing to foreign currency generation and improving the trade balance. The project is also expected to create around 140 direct jobs and 300 indirect job opportunities.

Gamal El-Dien said the Borex project represents a joint foreign investment and a significant addition to the glass manufacturing sector within the economic zone, reflecting its ability to attract advanced, technology-driven industries. He added that the project supports the authority’s strategy to deepen local value chains and enhance export-oriented production.

Furthermore, Gamal El-Din also noted that the factory’s products can be recycled multiple times without losing their properties, supporting sustainability goals and aligning with global trends toward a green economy. He said the project strengthens the economic zone’s role as a regional hub for specialized industries, particularly in non-traditional sectors with growing global demand.