Egypt’s Electrostar injects $13mn to boost capacity

Egypt’s Electrostar For Engineering Industries company is to pump investments worth 100 million Egyptian pounds (US$12.7 million) to boost capacities within fiscal year 2015-16.

Speaking to Amwal Al Ghad, chairman Mohamed Al-Menoufi stated that the new capital is set to be allocated for upgrading machines and equipments since the company is set to purchase new Italian-made machines for manufacturing refrigerators within the first half of current fiscal year.

He noted that the Italian machines will allow the firm to produce refrigerators with high quality and technology.

The new machines are set to operate with capacities of around 400,000 refrigerators annually i.e. 200 refrigerators in one shift, the chairman clarified.

Al-Menoufi said that the current capacity of Electrostar is around 160,000 refrigerators and expected to reach 200,000 by the end of fiscal year 2015-16 as pursuant to the operation of the new machines next summer.

Electrostar is carrying out continuous maintenance of all machines and equipments in company’s three factories to produce parts with no industrial defects, the official added, clarifying that the company is completing its plan for producing automatic washing machines.

The current capacity of Electrostar is around 60,000 washing machines as pursuant to firm’s plan that started last year, the chairman pointed out.