New investments in India to market Egypt's products

Egypt's Ambassador to India Hatem Tag el Din has attended a ceremony to lay a foundation stone of the factory of Kapci Coatings in Bangalore, the capital of India's southern Karnataka state.

The ceremony was attended by representatives of the government of India's Karnataka along with Minister Plenipotentiary Mongy Badr, who is the head of the Egyptian commercial bureau in south of India.

Kapci is considered the first Egyptian company to invest in south of India.

The company decided to pump initial investments worth 12.5 million dollars to establish a plan in field of automotive coating industry.