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3 new factories with $100 million Egyptian-Saudi investment to open soon—minister
The Egyptian Gazette Published in The Egyptian Gazette on 04 - 06 - 2018

CAIRO, June 4, 2018 (MENA) - Trade and Industry Minister Tarek Kabil said on Monday three new factories for the production of household appliances will be inaugurated in 6th of October City within a few weeks with Egyptian-Saudi investments of up to $100 million.
In a statement by the Ministry of Trade and Industry, Kabil noted the three factories are belonging to Unionaire Group and will produce washing machines, fridges and TV screens.
This comes as a part of the ministry's efforts to promote the national industry by increasing the percentage of local components in locally-manufactured products, the statement said.
"The local component in the TV factory will reach 71 per cent," underlined the minister.
Chairman of Unionaire Group Mohamed Fatehy said the three factories would create 1,500 jobs and the industrial complex will create around 3,000 more.

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