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ArabFinance: Indian cake brand Monginis will open an EGP 150 million factory in Egypt's Sadat City within the upcoming three months, commercial director Ahmed Helmy told Hapi Journal news website.
The decision comes as the company's sales pick up from a 70% drop during the pandemic, Helmy added.
The new 20,000-square-meter facility marks the company’s second in Egypt.
The company targets to increase its branches from the current 100 to 200 in the upcoming two years.
Egypt's industrial sector saw a rise by 22% Year on Year in its investments in fiscal year 2018/2019 to EGP 99.5B billion, Egypt's Minister of Planning and Economic Development Hala el Said said in a February statement.
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