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

Image

China's PVC exports face challenges

August 22, 2014 2:14 pm ET

Despite robust growth in the first half of the year, China's PVC exports now faces new challenges, due to trade barriers and new capacity ramping up...    More

Image

Recycled HDPE prices climbing

August 22, 2014 11:26 am ET

North American selling prices for recycled grades of high density polyethylene resin have increased in recent months because of tight supplies of the ...    More

Image

Investment firm specializes in emerging polymer firms in Ohio

August 21, 2014 3:20 pm ET

A plastics market veteran is working with an investment firm and a research foundation to help commercialize polymer technology in the Buckeye State.    More

Image

VDMA clarifies Tokyo statement about China

August 21, 2014 2:57 pm ET

Some remarks that VDMA President Reinhold Festge made at a recent press conference in Tokyo turned into sensational headlines in China.    More

Image

Bayer, SCAC partner on water reuse project

August 21, 2014 12:48 pm ET

Bayer MaterialScience (BMS) and Shanghai Chlor-Alkali Chemical Co. Ltd. (SCAC) have entered into a preliminary agreement for the reuse of waste water ...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

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

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events