Austria’s Kronospan eyes building wood panel factory in Egypt

The Austrian wood-based panels manufacturer Kronospan is probing establishing a multi-purpose wood panel factory in Egypt on roughly a 100,000-square-meter area, a statement showed.

The factory is expected to create around 100 job opportunities, the statement read.

The project aims to meet the local market’s demand as well as turn to exporting at a later stage of production.

This came during a meeting between Deputy CEO of the General Authority for Investment and Free Zones (GAFI) Amr Noureldin and Kronospan’s CEO Oana Bodea and her accompanied delegation to discuss new investments of the firm in Egypt.