Mena Glass, through its fully-owned subsidiary Sphinx Glass, signed a US$ 97M agreement recently with Italian contractor Ianua SPA for the engineering, plant construction, assembly and supervision of a new greenfield float glass manufacturing facility. MENA Glass is a company established by Citadel Capital and a group of leading regional investors to pursue investments in the promising MENA glass industry, with an initial capital of $120M. Sphinx Glass' greenfield plant will be located in Sadat City, 70km north of Cairo, and has licensed world-class production technologies from PPG Ind Inc. The new state-of-the-art facility will have a production capacity of 600/tpd and will sell to both local and export markets. Glass sizes will vary in thickness between 2-19mm. 200 new jobs will be created initially.
