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, Materials Suppliers, China, Africa

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

BASF pre-tax earnings rise, but will miss financial targets for 2015

October 24, 2014 10:16 am ET

BASF SE has raised its expectations for pre-tax earnings in 2014 but warned that it would not hit its financial targets for next year.    More

Image

Sabic, Shell cancel expansion for SADAF joint venture in Saudi Arabia

October 24, 2014 9:19 am ET

Saudi Basic Industries Corp. and Royal Dutch Shell have cancelled plans to expand an existing petrochemical joint venture in Saudi Arabia following...    More

Image

Sadara CEO says Middle East now has 20 percent of global ethylene capacity

October 24, 2014 9:33 am ET

Sadara CEO Ziad Al-Labban claims that the Middle East's ethylene capacity is now 20 percent of global production.    More

Image

PolyOne increases quarterly profits despite falling sales

October 23, 2014 4:55 pm ET

North American compounding leader PolyOne Corp. saw its third-quarter profit increase, even as sales fell vs. the year-ago period.    More

Image

Westlake adding ethylene capacity in Louisiana

October 23, 2014 9:54 pm ET

Westlake Chemical Corp. will add 250 million pounds of annual ethane-based ethylene capacity as part of a $330 million expansion project in Lake Charl...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

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

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events