Lebanon Businessnews News

API to expand its factory
Aims to export to neighboring countries
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Advanced Plastic Industries (API), a local manufacturer of polypropylene pipes and fittings, will invest $18 million in a plan to expand its factory in Zouk Mosbeh.

Charbel Abou Chedid, Vice President of API, said: “We are looking to fulfill the demand for reconstruction works that we would witness in neighboring countries, mainly Syria and Iraq.” He said his company aims to increase its exports to these countries and also meet the needs of the local construction sector.

API will expand the high-tech facility from 6,000 to 8,800 square meters and increase production capacity by 40 percent to 3,500 tons, annually.

The company submitted an application to the Investment Development Authority of Lebanon (IDAL) to gain permission, facilities, incentives and tax exemptions. Upon this approval, the company will begin works on the project.

API exports about 20 percent of its products to Saudi Arabia, Qatar, Algeria, Jordan, and Europe and is preparing to penetrate the Egyptian market.
Reported by Rania Ghanem
Date Posted: Oct 07, 2014
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