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Egyptian paints and coatings manufacturer, Kapci says its newly built factory in India will be operational within the second half of 2016, according to a report on http://projects.zawya.com/.
According to Mohamed Rateb, Kapci’s Sales and Marketing Manager, the investment cost of the new factory is US$12.5M and Kapci is the first Egyptian company to build a coatings factory in India.
The factory is built on 50,000m2 in Bangalore he added and is set to be an exporting hub where Kapci’s products can reach the South Asian region, backed by India’s free trade agreement with the 10 member states of the Association of Southeast Asian Nations (ASEAN). Additionally, Kapci’s Indian factory will contribute to boost the group’s exports to the country, which currently stood at US$3.5bn.