Jushi Egypt for Fiberglass Industry S.A.E (“Jushi Egypt”) is a subsidiary company controlled by China Jushi Co., Ltd (“China Jushi”), the world’s largest fiberglass manufacturer. Jushi Egypt was established in January 2012, and located in Suez Economic and Trade Cooperation Zone of Egypt, a place that enjoys a high geographical advantage as it connects Asia, Africa and Europe, 130 km away from Cario, 40 km from Suez city and only 5 km from Ain Sokhna seaport.
The Jushi Egypt project has a total investment of USD 521 million to build a world class large-scale fiberglass production base with an annual capacity of 200,000 tons, which is unique in whole Africa. The products of Jushi Egypt will be mainly supplied to Europe, as well as Turkey, Middle East and North Africa, and Egyptian local markets. The first phase of the project accounts for USD 223 million of investment with an annual capacity of 80,000 tons and the most advanced ultra-large tank furnace production technology in the world. It started full operation on April 23rd, 2014. The second phase for another 80,000 ton/year production line was put into operation in July 2016, and the construction for the third phase of the project for a 40,000 ton/year line was completed in June 2017. So in this way, the construction for the whole project was completed in advance within 5 years, rather than 8-10 years in the original plan, starting from the beginning of the construction in 2012.
The Jushi Egypt project represents a significant achievement made under the economic cooperation between Egypt and China. It has drawn high attention and great support from the governments of both countries. With the persistent efforts of project workers, the project has overcome various difficulties in its construction process and set a number of records – it boasts so far the largest investment value, the most advanced technical equipment and the fastest construction speed among all Chinese investment projects in Egypt. In the meantime, it is the first large-scale production base of fiberglass established by China Jushi in overseas countries, and establishes itself as a model project in China Jushi’s pursuit of global expansion. Moreover, it bears great significance for the Middle East and North Africa as it is the first fiberglass manufacturing facility in this area.
Jushi Egypt actively promotes joint development of staff and the company as well as the localization of management positions. At present, the company has altogether 1,350 employees, including 1,300 Egyptians and 50 Chinese. The overall localization rate reaches 90%.
As China Jushi’s first overseas fiberglass facility with large capacity, advanced technology, sophisticated equipment and high investment, Jushi Egypt will work even harder to live up to expectations in the future. The company will strive to set a good example for overseas investors in Egypt, and make greater contributions to the win-win cooperation between Egypt and China under the "Belt and Road" initiative.