Establishing a Paper Mill With EGP 1.3 Bln After Elections
Published Thursday, 24 May 2012 15:06 |
Egyptian Printing Chamber Federation's Board of Directors will submit a suggestion of establishing an industrial economic project and a factory to produce 150,000 tons of paper as a step to meet the market demand after the presidential elections. The investment cost of the project is estimated to be EGP 1.300 billion with Egyptian and Arab investments.
Ahmed Gaber, deputy head of the Printing Chamber, said the printers used in the news organizations did not have the right to compete private-sector printing houses as the role of the first is printing newspapers and similar attachments, adding that some news organizations have entered as competitors to the private-sector printing houses in the tenders offered by the government.
News organizations are not concerned about profit, as they receive subsidies from the government. However, the private-sector printing houses are self-financed, Gaber noted.
Khaled Abdou, chairman of the Printing Chamber, said the increase in the prices of paper is “unjustified” as the 8% increase represents EGP 400 per ton.
Minister of Finance ignored the invitation of the printing chamber for him to attend the meeting attended by news organizations to discuss the problems facing this sector, although the chamber is the only entity encompassing public and private printing industries, Abdou added, criticizing the Ministry’s negligence of private sector institutions.