Pearl Signs Agreement to Produce Polyurethane in Egypt

Systems house Pearl plans to develop polyurethane in Egypt's Suez Canal Economic Zone (SCZone). The 5000m2 facility will be built in the Sokhna industrial zone on the Gulf of Suez, with an initial investment of EGP100 million ($2.05 million). It will add 45 new jobs. Production is scheduled to begin in the first quarter of 2025, with a capacity of 20kT. Additional funding is expected for a second phase of development in the future.

SCZone offers diverse direct and indirect financial incentives, exemptions for exported goods, the export support programme, the strategic location and integration between industrial zones and seaports. All these factors provide a favourable environment for investment for Pearl Group, especially since the company aims to reach the markets of African countries and southern European countries.

This is the second polyurethane-related agreement inked by SCZone this year, after China's Befar Group's decision to put its Green Marine project in the Sokhna industrial zone. Polyurethanes will be used in the second of three phases.

Source: Urethanes Technology International