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FINANCIAL NEWS
Egypt SMPP starts operating Motaheda Carton Factory
06 Mar 2016
(MENAFN) Modern Shorouk Printing & Packaging plans (SMPP) will start operating Motaheda Carton Factory for cardboard manufacturing in Sadat City in Sep 2016.
Moreover, the firm is working on the final steps to install the production lines to begin the factory’s operation trial to generate 130,000 tons of paper yearly.
Additionally, SMPP received a loan value USD 17.86mn to complete building work, as agreed with the Arab African International Bank (AAIB).
The whole loans of USD 35.73mn SMPP will fund the necessary funding for running the factory, equally divided between AAIB and HSBC to USD 17.86mn.
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