Egypt's Electrostar Home Appliance Company is targeting to finalise the renewable and replacement processes for all machines and production lines of the company's factories within the first half of 2015 with EGP250 million investments, Mohamed Al Menoufi, chairman revealed. In statements to Amwal Al Ghad, Al Menoufi noted that the company depends on self-financing in its current expansions with 60% while it will obtain 40% banking finance from various banks. Electrostar is seeking to attain 20% annual growth rates so that the production capacity will reach 2000 pieces daily instead of the current average which is 1200 pieces, Al Menoufi asserted.
