EGYPT: Indomrama Group intends to develop it's investments in Egypt.

This was during a meeting with Ambassador Ahmed AL Queseny (Egypt's ambassador in Indonesia), with a delegation from Indorama Group which is based in Jakarta, headed by Arun Taneja (Executive director of the company), where this meeting is the second within ten days under the framework of Efforts to resolve the problem of spinning Shebin, which contribute to the company's share of 70% of the shares of the factory.

Mr. AL Queseny held a telephone conversation with Eng. Sami Amara (Monoufia governor) who in turn had contact with the Indian delegation in the framework of the settlement efforts and work to resume work and resolve the workers strike, which they did on the 5th of March after receiving production incentives allocated by the company’s management.

Both Eng. Amara and the Indian delegation expressed their hope that the end of this problem, and resume the factory production, especially after the stabilization of the situation in Egypt, referring to the efforts would be made for the rehabilitation of the factory to return again to the business, causing severe losses to the company that affect its contracts with foreign customers and export to the outside, in addition to carrying the price differences.