Henkel’s Egyptian arm is said to be considering an investment of up to €50 million in the Egyptian market over the next five years, according to a report published by Daily News Egypt.

The company is piling €40 million into the construction of a new plant in 6th of October City, while €10 million will be put aside to expand the company’s existing Egyptian facility in Port Said.

“The company aims to transform Egypt into an export centre for African markets,” CEO of Henkel Egypt Ahmed Fahmy told Daily News Egypt.