ArabFinance: PASSAP Home Appliances plans to inaugurate its EGP 90 million stove factory by the end of 2022, Al Borsa News reported.

The expected production capacity of the new plant is estimated at 200,000 gas stoves annually, while it aims to reach its full capacity during the first three years of operation.

Additionally, the company plans to acquire 15% of domestic market sales and benefit from the high demand.

Located in the 10th of Ramadan City, the new factory covers an area of ??15,000 square meters, which is an extension of the company’s current factory that produces refrigerators, freezers, heaters and coolers.

The company eyes to earmark 50% of its output for exports.

PASSAP Home appliances is one of the largest producers and distributors of home appliances in Egypt including refrigerator, chest freezer, upright freezer, gas cooker, water dispenser, fan and water heater.

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