Arab Finance: Haier Egypt, a manufacturer of home appliances, will commence the establishment of its new industrial park's second phase as of June 1st, the company's General Manager Ahmed Mossad El-Gendi stated in a meeting with Prime Minister Mostafa Madbouly.

The park's second phase encompasses the manufacturing of fridges and freezers, El-Gendi said.

He went on to say a new factory is set to be established starting January to incorporate the second and third phases for the manufacturing of variable refrigerant flow (VRF) systems and chillers.

It is worth noting that the park's first phase involves the manufacturing of low and medium-voltage air conditioners with investments estimated at $5 million.


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