In a bold step that underscores growing investor confidence in Egypt’s business climate, Huhtamaki Egypt has been granted the prestigious Golden License by the Egyptian Cabinet to build its new Molded Fiber packaging Plant using recycled wastepaper in Sadat City, located in the CPC Industrial Zone of Monufia Governorate. The project will be developed with a total investment of EGP 1.47 billion, marking one of the Finnish packaging giant’s largest investments in the region.
Spanning approximately 22,000 square meters, the facility represents a significant milestone in the longstanding strategic partnership between Huhtamaki Oyj and Eng. Ayman Korra, who plays an integral role in the project’s corporate structure and serves as CEO of Korra for Energy & Investment Projects, one of Egypt’s most prominent industrial entities.
Set to commence operations in August 2026, the new facility will create over 61 direct jobs and incorporate state-of-the-art molded fiber technology to produce sustainable, eco-friendly packaging solutions such as egg cartons, fruit trays, and cup carriers made from recycled paper fibers, targeting both local and international markets.
Commenting on the milestone, Eng. Ayman Korra, CEO of Korra for Energy & Investment Projects, said:
“We are proud of our enduring partnership with Huhtamaki that spans for more than two decades. Together, we have developed cutting-edge industrial ventures that add tangible value to Egypt’s economy. The awarding of the Golden License to this new Huhtamaki project reflects the state’s strong support for committed investors and affirms Korra’s successful strategy of attracting global investments and localizing advanced technologies in the Egyptian market.”
This major investment stands as a vote of confidence in Egypt’s investment landscape—an environment increasingly seen as conducive and competitive, particularly in light of streamlined government policies that support strategic industrial projects. The long-term collaboration between Huhtamaki and Eng. Ayman Korra is a testament to the power of synergizing local vision with global expertise, positioning the new factory as a pivotal hub for advancing Huhtamaki’s leadership in sustainable packaging solutions across the Middle East.
The Golden License is a key instrument introduced by the Egyptian government to accelerate nationally significant projects. It provides a comprehensive approval framework that covers project establishment, construction, operations, and licensing—along with a host of administrative and investment incentives that facilitate swift execution.
By receiving this exceptional license, Huhtamaki Egypt joins a distinguished list of fewer than 50 projects that have earned the Golden License out of more than 300 applications submitted since the initiative’s launch in 2017—a clear indicator of the project’s strategic importance and high potential.
Notably, Eng. Ayman Korra is recognized as one of Egypt’s sustainability pioneers. Under his leadership, Korra for Energy & Investment Projects places sustainability at the heart of its operational and social responsibility strategies. Through innovative energy systems and solutions, Korra strives to balance operational efficiency with environmental preservation, reducing carbon emissions and conserving natural resources. The company is consistently engaged in developing projects that support the shift towards clean energy, fully aligned with Egypt’s and the region’s sustainable development goals—driven by a shared commitment to building a greener, more resilient future for the coming generations.