ArabFinance: Turkish household appliances manufacturer Arçelik is planning to build a new factory in Egypt with investments of $100 million, Egyptian Minister of Trade and Industry, Ahmed Samir, revealed during a meeting with the company’s CEO, Hakan Bulgurlu, according to an official statement on November 13th.

The project will have a production capacity of 1.5 million devices annually and create 2,000 direct jobs, Samir noted.

Samir added that the company is planning to dedicate 60% of its output in Egypt for exports.

The minister said that Arçelik’s investment in Egypt comprised the transference of technology and knowledge to Egypt, along with products with high added value.
Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).