Some informed sources mentioned that Jiblah Holding is working at creating a new company in Egypt with a capital of EGP 500 Million or KD 25 Million. Jiblah is trying to obtain the final approvals from the Egyptian competent authorities to set up the new company that will start operating soon. The new Company's main activity will consist in building solid waste treatment plants in various provinces in Egypt, the sources added.

According to these sources, the paid up capital will be around EGP 200 Million (K.D 10 Million) and the new company plans to undertake environmental and industrial projects in more than one province in Egypt.

The creation of the company will be executed by the Financial Brokerage Firm owned by Jiblah holding in Egypt, considered one of the leading Egyptian financial brokerage companies. The Brokerage Company will perform the general subscription for the benefit on the new investment company.

This step taken by Jiblah came after many studies of the Egyptian market that proved the projects feasibility. That in addition to the large experience acquired by Jiblah in this domain due to the 2 solid waste plants it owns in Kuwait.

As for the cost of each plant, the sources said that it is too early to tackle this matter due to the rise in raw materials prices; also the countries where the equipment will be imported were not specified yet nor the production capacity that will differ from a plant to the other.

it is worth nothing that Jiblah Holding was established four years ago by Al-Sayer group with K.D 2.5 Million as a capital. In the Middle of last year it increased its capital to K.D 15.5 Million by expanding its shareholder base as a preliminary step before being listed in Kuwait Stock Exchange.

The company submitted the documents required to be listed in the middle of last year and did not receive till now the approval from Kuwait Stock Exchange.