Orascom IP signs $120 mln deal with India's Flex Accipto to expand plant in SCZONE

The expansion project will be carried out on an area of 150,000 square metres, according to a statement released by the SCZONE on Tuesday.

Chairman of the SCZONE Walid Gamal El-Din witnessed the signing of the deal between representatives of the Egyptian and Indian sides.

Flex Accipto is a subsidiary of UFlex Group, which is India's largest multinational flexible packaging and solutions company.

The company manufactures high-quality packaging products and containers for dairy products, juice derivatives, and others, with a production capacity of 120 million packages annually.

The deal reflects growing economic cooperation between Egypt and Indian companies, read the SCZONE statement.