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.

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