Aluminium Company of Egypt (Egyptalum) unveils a plan to establish a new aluminum factory worth EGP 10 bn, Invest-Gate reports.

Egyptalum will finance part of the project, while the companies which will establish the plant will cover the remaining costs, Al Masry Al Youm quotes Chairman and CEO Abd El-Zaher Abd El-Sattar Hassan as saying.

The company is also studying a number of offers it has received from France, China, and the Gulf region for development opportunities to meet local market needs.

Egyptalum’s sales rose y-o-y to EGP 6.5 bn in 3Q of FY2016-17 compared to EGP 4 bn in the comparable period the previous year.