Sphinx Glass has started commercial production at its 220,000-sqm greenfield float glass factory in Egypt.
Sphinx Glass is 51 per cent owned by GlassWorks, a Platform Company established by Citadel Capital and a group of co-investors to pursue opportunities in the glass manufacturing industry. The Dubai Group holds the remaining 49 per cent.
Citadel Capital, listed on the Egyptian Stock Exchange, is a leading private equity firm in Middle East and Africa with $8.3 billion (Dh30.46bn) in investments under its management.
With a production capacity of 600 tonnes per day, the E£1.1 billion facility is one of Egypt's largest producers of float glass.
The new factory, which broke ground in October 2008, is being licensed by PPG Industries, a leading global manufacturer of float glass. The contractor for the factory is Ianua, one of the world's top contractors and service providers in the float glass industry.
"The plant will be manufacturing glass under a licensing agreement from PPG Industries," said Sphinx Glass Chief Executive Officer Mohamed Khattab.
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