remarks by eng faisal al munif during the egyptian saudi economic cooperation conference

Eng. Faisal Al-Munif, CEO of Al-Munif Pipes, delivered a speech during the Egyptian-Saudi Economic Cooperation Conference, highlighting the strong economic relations between the two countries. He emphasized Al-Munif Pipes’ commitment to expanding its industrial presence both within the Kingdom and regionally, especially in the Egyptian market.

He pointed out that the company plans to offer 20% of its shares on the Saudi stock exchange, aiming to raise approximately SAR 110 million as part of its strategic expansion plan. Al-Munif Pipes currently holds a 20–25% market share in the plastic pipes sector, with total domestic investments exceeding SAR 700 million, in addition to over USD 45 million invested in Egypt.

Eng. Faisal also shared insights into the company’s journey in Egypt, noting the establishment of its first factory in 6th of October City more than a decade ago, followed by further expansions in Sadat City. He praised Egypt’s national development projects and stressed the strategic importance of the Egyptian market for the company's future growth.

He concluded by stating:

"Despite the initial challenges we faced, we have successfully established our presence in the Egyptian market, and we consider it one of the most
important strategic markets for our expansion in the coming period."