Hayat Egypt, the Egyptian subsidiary of Turkey-headquartered manufacturer of personal care products, is planning to invest $210 million in its domestic operations.
The company’s General Manager Şenol Keserlioglu said $55 million out of the budgeted $210 million would be invested in two new factories for the production of non-woven products and tissue paper.
He said two new factories are expected to start operations in 2024, adding that they would create nearly 500 direct job opportunities.
Hayat Egypt currently owns five factories that manufacture women's and children's care products, non-woven products, tissue paper, face masks, packaging products and sanitary napkins, and account for 1,600 direct and 900 indirect job opportunities.
Keserlioglu said these factories currently export products to 58 countries around the world, adding that they are targeting exports worth $200 million by 2025 from $150 million at present.
Hayat is the world’s fourth largest branded baby diaper manufacturer and the largest tissue manufacturer in the Middle East, Africa and Eastern Europe region.
(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)
Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments and partnerships across sectors in the Middle East and Africa.