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GlassRock investments reached $63m by end of 2017 - Daily News Egypt

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GlassRock investments reached $63m by end of 2017

Company produces 50,000 tonnes per year, supplies insulation materials for 20 building in New Administrative Capital


Amir Naguib, head of Glasrock Insulation Company, said that the company’s total investments reached $63m by the end of 2017.

He added that Glasrock’s paid-up capital is about $25mn, and the company supports the state strategy to rationalise energy through thermal insulation in commercial, industrial, and residential facilities.

He pointed out that the company’s production of thermal insulation materials reaches annually to about 50,000 tonnes, which secures the needs of the state of insulation materials and export the rest of the ratio to foreign markets.

Glasrok contracted the supply of thermal insulation materials to be used to build 20 buildings in the government district of the New Administrative Capital.

Naguib said that the contracting operations were carried out with 10 contractors of the executors of ministerial properties and other government buildings, so that the total procurement of buildings will reach about 2,500 tonnes of insulation materials.

He pointed to the success of the company in contracting for the supply of insulation materials to a number of cement factories, fertilizers, oil, and gas discoveries and power plants, which will contribute to support the growth of the company locally, and the trend to export quantities of materials produced in the company’s factory to a number of new markets globally.

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https://dailyfeed.dailynewsegypt.com/2018/07/10/glassrock-investments-reached-63m-by-end-of-2017/
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