Czech Pegas, the second biggest producer of synthetic textiles in Europe, is expanding abroad. And the first country the company picked for its FDI premiere is – wait for it – Egypt.
And what is Pegas’s maiden foreign adventure is also – wait for it again – Egypt’s first foreign direct investment since the January revolution.
The initial investment of €55m-60m is linked to a key business deal – a long-term sale agreement with a local customer who will buy what the new plant produces.
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