Business Update4 Oct 2024, 02:49 am
UFLEX LTD's Subsidiary to Invest USD 126 Million in Aseptic Packaging Facility in Egypt
AI Summary
UFLEX LTD's step down wholly owned subsidiary, Flex Asepto (Egypt) S.A.E., has decided to set up an Aseptic Packaging facility in Egypt. The proposed capacity addition is 12 billion packs per annum, with an investment of approximately USD 126 million. The facility is expected to be operational by September 30, 2025, aiming to meet the demand for Aseptic Packaging in Egypt, Europe, Middle East, and East Africa.
Key Highlights
- UFLEX LTD's subsidiary to invest USD 126 million in a new Aseptic Packaging facility in Egypt
- Proposed capacity addition of 12 billion packs per annum
- Facility expected to be operational by September 30, 2025
- Investment to be financed through owned and borrowed funds
- New facility aims to meet the demand for Aseptic Packaging in Egypt, Europe, Middle East, and East Africa