Egyptian Trade and Industry Minister
Tareq Qabil said three factories for household appliances will be opened within weeks. The 100-million-dollar factories will be set up by Egyptian-Saudi investments.
The factories will be established in
the Sixth of October City and affiliated to Unionaire Group.
In a statement on Monday, Qabil
underlined the ministry's
keenness on boosting national industry and increasing local component in
The factories will produce LCDs, refrigerators and washers.
component in the LCDs factory will stand at 71%, he
Unionaire Board Chairman Mohamed Fathy said the three factories will secure 1500 direct jobs.