Pandaplast invests $12 million in the Congo
Pandaplast, a manufacturer of plastic household items and furniture, is expanding to the Congo. Investment in the factory is estimated at $12 million, including the cost of the land.
Manufacturing, which has already started, will gradually build up to full capacity by mid-2017, reaching 3,000 tons of plastic per year. Production is expected to encompass more than 200 different items.
The factory, named Europlast, will have a total built-up area of 20,000 sqm. Ali Kassem, major shareholder, said that the plant in Lebanon used to export large amounts of plastic products to this market. For this reason, a decision was made to build their own factory in the Congo to meet increasing demand.
“Congo is witnessing huge infrastructure and construction developments. The expansion will help us export our products to neighboring African countries,” Kassem said.
Europlast factory is a partnership between Kassem and businessman Mortada Kabalan.
Date Posted: Jul 13, 2016