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Kharafi Group to expand its footprint in Egypt Kuwaiti firm will increase current projects and initiate new ones as it looks to expand its presence in Egypt
Kuwait's Kharafi Group has announced increasing its investments in Egypt in 2011 through expanding existing businesses as well as new projects in the tourism and manufacturing sectors, reports Al-Ahram newspaper citing the group's chairman. The expansion plan includes investing LE200 m in the group's Arab Aluminum plant, which would increase its production capacity to 600 thousand tonnes/month, 20 per cent of which will be directed to the export market. Another LE150 m will be injected into Arab Company for Electronics (manufacturer of computers and Samsung televisions), and will aim at increasing the plant's production capacity by 50 per cent.
