The extension comes as part of national efforts to curb plastic pollution and accelerate the transition toward sustainable production.
The facility will focus on recycling polyethylene terephthalate (PET), producing polypropylene (DOTP) and high-density polyethylene (HDPE).
The initiative aims to collect more than 700 metric tonnes of used beverage cartons.
Private sector involvement is seen as essential to scaling infrastructure and technology.
The company posted 14% rise in revenue despite drop in profits.
The council approved reducing licence fees for rice straw collection in order to encourage contractors to continue collecting the crop residue.
The steep profit drop likely reflects inflationary pressures, elevated financing costs, and currency fluctuations in Egypt.
The Offering is expected to comprise sale of up to 21.17 existing ordinary shares.
The construction is over 65% complete, with infrastructure work reaching 80%.
The project will span 35,000 square meters and aims to produce high-demand industrial and agricultural packaging solutions.