The European Bank for Reconstruction and Development (EBRD) has announced its support for aluminium production in Egypt by providing a €13.7mn loan to Alumil Egypt Trading and Industry, a subsidiary of Alumil Misr, according to a statement on March 3.
The funding will be used to establish and install a new aluminium extrusion line at the company's factory in the Polaris industrial zone in Cairo. The expansion will significantly increase Alumil’s plant's production capacity in Egypt. It will support the company’s vertical integration strategy and enhance its ability to supply advanced aluminium systems to the construction and industrial sectors in the region.
Alumil Egypt is a subsidiary of the Greek-based Alumil Group (ATHEX: ALMY), a global leader in architectural aluminium systems.
Polaris manages over 10mn square metres of land across strategic hubs like 6th of October City, New October, and Sadat City.
The expansion is also expected to improve operational efficiency, reduce supply chain times, and enable the manufacturing of higher-value products that comply with European quality standards. It will also strengthen Alumil’s regional manufacturing capabilities and export potential.
Alumil Misr, strategically located near the Suez Canal, is a key part of Alumil's broader strategy to establish regional manufacturing hubs to provide advanced aluminium solutions to fast-growing markets across Africa, the Middle East, and surrounding regions.
Mark Davis, the EBRD’s Managing Director for the Southern and Eastern Mediterranean, expressed his pleasure in supporting Alumil’s production expansion in Egypt. He referred to the bank’s commitment to bolstering local manufacturing, supporting private sector development, and enhancing industrial competitiveness in the region.
George Mylonas, Chairman and CEO of Alumil, said the project will help establish a regional hub that provides enhanced operational flexibility.
The EBRD has invested over €14.2bn in the country across 221 projects since its operations began there in 2012.
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