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Three Egyptian-Saudi factories to be opened within weeks - min.

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 locally-made products.

The factories will produce LCDs, refrigerators and washers.

The local component in the LCDs factory will stand at 71%, he said.

Unionaire Board Chairman Mohamed Fathy said the three factories will secure 1500 direct jobs.

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