Papyrus Australia Limited announce it has signed phase one contracts with the Egyptian Government on 30 October 2022 through its Egyptian commercial entity Papyrus Egypt. These phase one contracts cover: the sale of banana fibre moulding line equipment, a moulded banana fibre product offtake agreement. This is a key milestone for Papyrus in the Cooperation Protocol Roadmap which was signed with the Egyptian Government's Ministry of Military Production earlier this year. The contract to supply, install and commission a new production facility for moulded products made directly from banana fibre is a significant step forward in commercialisation of the Papyrus technology. With signed phase one contracts now in place, Papyrus' priority will be the supply, installation and commission of the new banana fibre moulding plant for the Egyptian Government. In addition to commissioning the plant, Papyrus will support the Egyptian Government in training on all aspects of the operation of the moulding line to ensure
its success.