Attaka, Egypt – Alexandria Insulated Panels has opened a new insulation panel manufacturing plant in Egypt’s Suez Canal Economic Zone. The new Alex Panel facility represents an EGP700m ($13.8m) investment for the company.
The 31.3m2 factory has an annual production capacity of 1m m2 of polyurethane insulation panels, plus 1.1m m2 of rockwool panels. It will employ 120 people.
The official opening was performed by Egyptian Prime Minister Mostafa Madbouly. Following the ceremony, Alex Panel’s chairman Magdy Hosni briefed the prime minister on the project’s operations and contributions to a number of national initiatives.
