Kandil Glass Group has signed a financing agreement with Banque du Caire to support the construction of a new glass production facility in the Ataqa Free Zone, Suez, Egypt, while also funding expansion and capital investments across its existing operations.

The financing package totals approximately $26.7 million, structured as a $16.7 million medium-term loan dedicated to the new factory and additional funding of $8 million plus EGP 85.6 million allocated for CAPEX and operational growth. The agreement reflects continued investment in Egypt’s industrial manufacturing sector and a focus on increasing production capacity for both local and export markets.

The new facility, expected to operate under the name Kandil Glass Industries, is planned with a production capacity of around 100 tonnes per day (tpd). Located in the Ataqa Free Zone, the project benefits from proximity to the Suez Canal logistics corridor, offering direct access to international shipping routes and supporting export-oriented manufacturing strategies.

Alongside the new plant, part of the financing will be used to upgrade existing facilities, supporting modernization initiatives and strengthening operational efficiency within the group. Company statements indicate that the project is designed to enhance competitiveness, increase the value added of local manufacturing and contribute to sustainable industrial growth.

Banque du Caire described the agreement as part of its broader strategy to support value-added industries and stimulate industrial development in Egypt, highlighting the expected creation of new employment opportunities and stronger integration within the national manufacturing ecosystem.