Egyptian Investment Minister Ashraf Salman has inaugurated Thursday the first state-run factory, affiliated to El Nasr for Electric & Electronic Equipment – Neeasae, to produce LED lamps.
The factory will be constructed in Alexandria governorate with total cost of EGP15 million (US$2 million) with the capacity of 500.000 lamps monthly.
Salman asserted that the new factory is one among the current developments on public sector’s firms.
Factory’s net profit is expected to record EGP 5.7 million (US$747 thousands), minister stated.
Furthermore, he added that this factory is to participate in saving energy within the upcoming period by producing power saving lamps with international qualifications.
Moreover, the head of The Chemical Industries Holding Companies Mohamed Reda clarified that the new factory comes among firm’s strategy to support affiliate companies to use and develop available resources.
