Beko Egypt for home appliances, a subsidiary of Arçelik, is now on track to open its $100 million factory in the 10th of Ramadan City, the company announced on Monday.
The statement was made in a meeting between Egyptian Minister of Trade and Industry Ahmed Samir and Umit Günel, General Manager of Beko Egypt in Ankara.
The factory has an area of over 114,000 square meters and will have annual production capacity of 1.5 million devices.
It will also export 60 percent of its output to Europe, the Middle East, and Africa. The project’s estimated yearly export potential is $250 million.
Günel expressed Beko Egypt’s plans to strengthen localisation and make Egypt a global export hub for household appliances.
He also announced that the new factory will operate with renewable energy, promoting a “Zero Waste” approach.
According to Günel, the project is set to offer over 2,000 job opportunities for Egyptian youth.
Moreover, the company’s plan to open 250 new showrooms and 50 service centres across Egypt will contribute to creating more job opportunities.
