Jushi Group delays opening of fiberglass plant in Egypt

Rebecca Kanthor
PLASTICS NEWS CHINA

Published: August 12, 2013 9:36 am ET
Updated: August 12, 2013 9:40 am ET

Related to this story

Topics Materials, Africa, China, Materials Suppliers

Tongxiang, China-based fiberglass manufacturer Jushi Group Co. said is has delayed plans to open a factory in Egypt due to political unrest.

In an emailed statement, Jushi said the plant was originally scheduled to start in the third quarter of 2013, but it has been delayed until the fourth quarter.

The statement blamed the political situation in Egypt is still not clear. Egypt's military ousted President Mohamed Morsi in July.

Jushi has invested $220 million in the Ain Soukhna, Egypt, plant. When it opens, it will have capacity to produce 80,000 metric tons of fiberglass annually.

The plant is Jushi's first outside China, and will serve customers in the European Union, Middle East and India.

According to the company, the plant has not sustained any damage from the current political unrest. The company said it is following the political situation closely, reserving production materials and adjusting personnel arrangements.

"The continuous running of the Egyptian plant also relies on the political stability of Egypt, the stable supply of water, electricity, [natural gas] and the safety of the infrastructures," the statement said. "We will work hard to communicate with Egyptian government and Chinese embassy in Egypt to be aware of the political dynamics and ensure the plant will start commissioning in a relatively favorable external environment."

The company added it still considers the plant "a miracle in the project construction history of Egypt, as such a huge project only took a little more than one and half year to obtain all the government approvals and finalize all major works."


Comments

Jushi Group delays opening of fiberglass plant in Egypt

Rebecca Kanthor
PLASTICS NEWS CHINA

Published: August 12, 2013 9:36 am ET
Updated: August 12, 2013 9:40 am ET

Post Your Comments


Back to story


More stories

Proposed Shell project draws more than 1,000 to informational meetings

April 17, 2014 2:03 pm ET

More than 1,000 people attended a pair of public meetings hosted by Shell Chemical LP on April 16 to discuss the possibility of building a major...    More

Image

Hedging can slow the resin rollercoaster

April 17, 2014 3:00 pm ET

The good old days — if they even ever existed — are gone, and.Andy VanPutte thinks volatility in the resin market is here to stay and...    More

Spain's Cristian Lay Group buys two materials units of bankrupt LSB

April 17, 2014 11:11 am ET

Spanish industrial conglomerate Cristian Lay Group has purchased two of the bankrupt Spanish PET packaging group La Seda de Barcelona.    More

Indorama's purchase of Sasa to give wider access to multiple markets

April 16, 2014 10:07 am ET

PET maker Indorama Ventures Public Co. Ltd. is expanding in Turkey with the acquisition of a majority of Sasa Polyester Sanayi.    More

Axiall resumes operations at damaged Lake Charles PVC feedstock plant

April 15, 2014 4:41 pm ET

Axiall Corp. has resumed operations at its PVC feedstock plant that was damaged by a fire in December.
More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Automotive Market Review and Outlook 2014 The Americas

This 75-page report features in-depth analysis of the automotive industry for the Americas. It includes discussions of market trends, legislative/regulatory activity impacting production and threats as well as design strategies being implemented by the major automakers. Detailed charts and data tables outline North American automotive production over the last five years.

Learn more

Plastics Building & Construction Market Review and Outlook 2014 with MS Excel chart data

This report provides in-depth analysis of the plastic building and construction market for North America, including discussions of trends, opportunities, threats and the latest developments in construction trends that impact plastics processors.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events