SICO seeks 1 bln EGP investments from factory in Asyut

Egypt-based SICO Technology is set to increase the investments of its factory at the technology park in Asyut to one billion Egyptian pounds during the next three years.

The company’s current investments are worth 442 million Egyptian pounds.

Sico’s chairman Mohamed Salem said during a press conference the company’s marketing plan include axes namely increasing the volume.

The factory has produced 120,000 units within 6 months, the official added. The company has 35 maintenance and technical support shops all over  Egypt.

In addition,  the company seeks to sell 900,000 units by the end of the current year worth 1.2 billion Egyptian pounds,  1.5 million units in 2019, and 2.5 million units worth 2.5 million units by 2020.

SICO Technology has recently started to export its domestically-manufactured mobile phones to the UAE.

SICO, the first Egyptian brand specialised in the field of mobile phones, aims to carry on its expansion plans overseas and to export its products to the Arab and African countries over the coming period, he indicated.

In February, SICO had launched its first Egyptian android smartphone through six models, their prices range between 999 Egyptian pounds and 4,200 pounds