Kapci Coatings, an Egyptian company making auto refinish products, is planning to invest around $50 million in five factories across India, according
to the,Ambassador of the Arab Republic of Egypt to India.
Kapci India already had considerable market share and hence decided to expand its operations in the country.
It had already begun construction of its first unit in Karnataka.
While other Egyptian companies were either planning or already investing in manufacturing facilities to tap the potential of theIndian
market, companies in the country, too, were increasing their presence in the North African nation, according to the envoy.
About 52 Indian companies are now present in Egypt with an investment of around $3 billion.