Orascom Industrial Parks, an Egyptian conglomerate, agreed to a $120 million contract with Flex Accipto, an Indian packaging solutions firm, to develop its facility in Sokhna, within the Suez Canal Economic Zone (SCZONE).
The expansion project will be carried out on an area of 150,000 square meters, according to a statement released by the SCZONE.
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.
