Egypt’s Engineering for Electromechanical Works (MRZ) will set up a new factory in the 6th of October City for manufacturing main distribution boards at an initial investment of 100 million Egyptian pounds ($6.4 million).
Company Chairman Marzouq Mohamed Ali told Zawya Projects that construction will start in the third quarter of 2021 and complete by early 2022.
He added that company is negotiating with Bank Misr and Al Ahly Bank for loan to build the factory.
“The cost of construction work including land price adds up 80 million pounds,” he said.
The company currently owns three factories in the 6th of October City for producing 12 and 24 KV medium voltage switchgear using ABB components as per the specifications of Egyptian Electricity Holding Company.
Ali added that the company currently makes SF6-insulated MV switchgear as well as Low Voltage and MV transformers for outdoor installations.
(1 US Dollar = 15.68 Egyptian Pounds)
(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)
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