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- 10 أغسطس 2015
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China fiberglass firm to raise Egypt spend
China-based Jushi Group, the world's largest manufacturer of fiberglass, is aiming to raise its annual production level to 200,000 metric tonnes in Egypt.
Jushi Egypt for Fiberglass Industry, a subsidiary of Jushi Group, exported 95 per cent of its products, valued at $84 million, and paid about EGP135 million ($17 million) in tax to Egyptian government, Yang Jixiang, deputy general manager of Jushi Egypt, was quoted as saying in the China Daily report.
"Two Chinese companies have entered China-Egypt Suez Economic and Trade Cooperation Zone to supply materials to us. While improving their technology to meet our need for Kaolin powder, a raw material for glass fiber, an Egyptian mill factory has increased its mills from one to four," Yang said.
While assembling manufacturing line also with an output capacity of 80,000 tonnes, which will be put into operation in June, the company has started construction for capacity of another 40,000 tonnes, he added.
"If you export fiberglass to Europe from China, you have to pay anti-dumping and anti-subsidy duty at a rate of 24.8 percent, along with the tariff. There is no tariff if you export to Europe and Middle East from Egypt and there is no anti-dumping and anti-subsidy duty at all," he said.
He said it takes at least one month to transport product from China to Europe, but from Egypt, it takes only one week. The container could arrive in Turkey in only two days.
Egypt is rich in human resources and also in natural resources for fiberglass industry. "The engineers in Egypt are well-educated. Though the efficiency in Egypt is not as high as that in our headquarters, it will improve as we invest more in training," Yang said.
China-based Jushi Group, the world's largest manufacturer of fiberglass, is aiming to raise its annual production level to 200,000 metric tonnes in Egypt.
Jushi Egypt for Fiberglass Industry, a subsidiary of Jushi Group, exported 95 per cent of its products, valued at $84 million, and paid about EGP135 million ($17 million) in tax to Egyptian government, Yang Jixiang, deputy general manager of Jushi Egypt, was quoted as saying in the China Daily report.
"Two Chinese companies have entered China-Egypt Suez Economic and Trade Cooperation Zone to supply materials to us. While improving their technology to meet our need for Kaolin powder, a raw material for glass fiber, an Egyptian mill factory has increased its mills from one to four," Yang said.
While assembling manufacturing line also with an output capacity of 80,000 tonnes, which will be put into operation in June, the company has started construction for capacity of another 40,000 tonnes, he added.
"If you export fiberglass to Europe from China, you have to pay anti-dumping and anti-subsidy duty at a rate of 24.8 percent, along with the tariff. There is no tariff if you export to Europe and Middle East from Egypt and there is no anti-dumping and anti-subsidy duty at all," he said.
He said it takes at least one month to transport product from China to Europe, but from Egypt, it takes only one week. The container could arrive in Turkey in only two days.
Egypt is rich in human resources and also in natural resources for fiberglass industry. "The engineers in Egypt are well-educated. Though the efficiency in Egypt is not as high as that in our headquarters, it will improve as we invest more in training," Yang said.
