Al Manar Group aims to increase its annual growth rate from 35%-40% by the end of Q4 of 2019, according to Ahmed Nawara, Al Manar Group CEO, Amwal Al Ghad reported.
Nawara added that the group’s growth plan depends on the production capacity, which will expand by opening new facilities, as the 6th of October facility’s production capacity have increased to almost 5.5 tons per year.
The CEO further pointed out to the company’s five-year plan to develop and expand the 6th of October facility from 2018 to 2022, including developing the production capacity, increasing the number of the company’s distributors and representative.
Nawara referred to the group’s negotiations with several international oil companies (IOCs) which will support Al Manar development plans for the next years.
He stated that the European Union’s (EU) market is a very attractive one to many IOCs, thus, the group intends to to meets the international standard and introduce itself to this market.