Gulf Extrusion to establish operations in Egypt
UAE manufacturer keen to participate in Egypt's growing construction market
UAE’s aluminium product manufacturer Gulf Extrusions announced on Wednesday it will establish a commercial office in Egypt before the end of 2015 in order to capitalise on the country's expanding residential sector.
Gulf Extrusion said the annual demand for extruded aluminium products in Egypt will almost quadruple from 85,000 tonnes annually to around 300,000 tonnes as the country eyes targets of one million housing units over the next five years.
"We already sell our products in Egypt through our local customers, but we want to have a legal set-up so that we have direct contact with the Egyptian market," Modar al-Mekdad told Reuters.
"This will be a big leap and it will drive the demand for extruded aluminium products in the region as well,” al-Mekdad added.
Gulf Extrusions’ Dubai plant reports output of 50,000 tonnes a year, and another plant is being built in Abu Dhabi, close to the Emirates Aluminium smelter. The new plant is to be operational in the last quarter of 2015, taking production up to 75,000 tonnes a year and 100,000 tonnes by the end of 2016, the Reuters report added.