ArabFinance: Unionaire Group is planning to build a 55,000 square meter factory in the Sixth of October City at a cost of EGP 1 billion, Al Mal quoted CEO Mohamed Osman.
The plants output will be earmarked for export, Osman noted.
The electronics manufacturer will fully cover the plant cost, with its inauguration slated in 2022, the CEO added.
The company earlier had plans to offer 30% of its stake on the Egyptian Exchange in 2019, but no further updates were revealed.
Copyright 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.