Egypt operates $10mn office furniture factory in Ethiopia early 2016

Egypt’s PackTech for Real Estate Investment is to launch the first phase of its new factory for office furniture in Ethiopia at the beginning of 2016, Chairman Alaa El Sakaty said Thursday.

Speaking to Amwal Al Ghad, El Sakaty stated that the new factory will be established with investments estimated at US$10 million.

He added that it is hard to determine the capacity of the new factory but it is expected to operate with production value estimated at around US$1 million.

On other side, El Sakaty noted that PackTech’s recently-launched factory for power transformers in Ethiopia has started supplying with capacity estimated at 2,000 transformers annually. He added that Ethiopian market’s total needs of power transformers are ranging between 15,000-20,000 transformers per year.

He further clarified that the total investments of company’s power transformers factory in Ethiopia are estimated at US$10 million divided upon a number of partners.

Moreover, Chairman El Sakaty said the Egyptian market is supplying firm’s power transformers factory with the necessary materials.