Corys Investments announced that its joint venture with GF Piping Systems and Egypt Gas to establish a new production facility for plastic pipes and fabricated fittings in Egypt. The new JV, named Egypt Gas GF Corys Piping Systems, seeks to improve the Egyptian gas and water distribution market. With an initial investment of nearly AED 80 million, Corys and GF will take the industrial lead while holding 75% stake equally, while Egypt Gas will own 25%. The signing of the joint venture's agreement is anticipated to be closed in the first quarter of 2020, while the facility's operation is expected to be in 2021 with a production capacity of around 20,000 tonnes.