New move from Turkey's leading conglomerate

Eczacıbaşı Holding, which reached a net turnover of 33 billion TL in 2023, is nearing the final stages of a major building materials investment it will implement in Egypt, with the Egyptian Ministry of Investment and Foreign Trade officially announcing the project. The investment is described as one of the most prominent indicators of the recently strengthened economic relations between the two countries. The company has completed negotiations with the local authority, GAFI, to leverage cost advantages and regional opportunities for production in Egypt.

Eczacıbaşı's new factory is planned not only for the Egyptian domestic market but also for exports to Turkey, the European Union, and the Gulf Cooperation Council countries. Materials produced under the company's own brand will be shipped from there to markets across the region.

Egyptian Minister of Investment Hassan ElKhatib stated that the contacts made serve the strategy of turning Egypt into an important industrial and logistics hub. The new factory will be integrated into Eczacıbaşı Holding's global network, which spans more than 40 production facilities worldwide, and will play a key role in the group's international growth.

The normalization of diplomatic relations between Turkey and Egypt since 2023 and a series of high-level visits play an important role behind the momentum in commercial relations. These developments have accelerated the search for new investment and cooperation opportunities between companies in the two countries.

As of 2024, the trade volume between the two countries has reached 9 billion dollars, with the goal of increasing this figure to 15 billion dollars in the near future. In particular, Turkish textile and building materials companies continue to sign agreements for new investments in Egypt's strategic regions, primarily the Suez Canal Economic Zone.

Founded in 1942, Eczacıbaşı Holding operates in five main areas—building materials, consumer products, healthcare, pharmaceuticals, and natural resources—and encompasses 50 companies. Employing more than 13 thousand 500 people and maintaining its presence in the global arena with 40 production facilities, the holding aims to further increase its effectiveness in the Middle East and European markets through Egypt.