India's Flex invests $110M in polyethylene production in SCZone
The Indian Company, Flex, laid the foundation stone for the polyethylene production project, in the industrial zone of Ain Sokhna, within the scope of the industrial developer Orascom Industrial Zones, with investments amounting to $110 million.
The Suez Canal Economic Zone (SCZone) elaborated in a statement that the project is located on an area of 250,000 square meters, with a production capacity of 30,000 tons per month.
The project will be implemented in two phases over the next two years, with the first phase starting in mid-2024, and providing more than 700 direct and indirect job opportunities, while the second phase will be implemented in mid-2025.
Flex is one of the largest Indian companies working in the field of polyethylene production, as part of the company's plan to expand in Egypt to create a strategic center for it in the region to cover the local market and export to the Middle East.