The Clap
Delemar Aluminum, one of the biggest aluminum producers in Egypt, has set big investment plans, as well as hinted at a possible EGX IPO.
Investment plans
Delemar plans to double its investments within the coming five years. The company plans to invest some EGP 750 million in a new factory in Sadat City, with construction expected to kick off later this year & take up to three years for completion.
The news comes after the company recently announced an EGP 600 million investment to build a processed glass factory in Sixth of October city.
Possible IPO
Delemar’s CEO Mahmoud Haroun said the company will discuss a possible IPO next year on the EGX in a general assembly meeting later this year. Discussions are still in a very early phase, & no details on the deal have yet been announced.
