Eng. Medhat Khalil, Chairman of the Board of Raya Holding Company for Technology and Communications, stated that the opening of Al-Pareq factory for recycling plastic granules, at an investment cost of EGP 120 million, will be put off awaiting the Ministry of Health's approval for the technical specifications of the substance used in recycling. Khalil told Amwal Al Ghad that the factory is expected to start its operations and production by the end of this year, pointing out that all procedures have been completed and that the company is addressing the Ministry of Health to inquire about the latest news about the factory. He explained that the political situation in Egypt and the consecutive government formations have resulted in a delay in obtaining approvals for starting the operation of the factory, stressing that this would be the first factory in the Middle East which works in recycling the plastic granules used in manufacturing food containers. He also emphasized that the investment costs of the project reached about EGP 120 million and that it will be established on a space of 10.000 m2 in the 6th of October City. The company has purchased the trade mark required for the materials which will be produced by one of the international companies, especially because the sector of plastics industry will achieve good growth rates in the future. This will maximize the company's profits in this sector. According to international reports, the Middle East is the world's leading area in producing and exporting plastic raw materials by 2015, with an annual growth rate of 30%.
