Egypt’s Electrostar For Engineering Industries company is set to finish establishing new production line for refrigerators and deep freezers by the end of the current year, chairman Mohamed Al-Menoufi said.
The new production line is with investments worth 250 million Egyptian pounds to boost its share in the local market by 50 percent.
Speaking to Amwal Al Ghad, chairman Mohamed Al-Menoufi stated that the volume of the company’s production of refrigerators registered 1,000 refrigerators daily expecting the new line will produce 1,500 refrigerators and deep freezers daily.
Menoufi pointed out that the group has a clear vision through the implementation of the replacement and renovation of all machines and production lines in factories group operations, to allow the group to increase production capacity, quality and high accuracy using mechanization at all stages of production so as to keep pace with global developments.
He expected the rising of prices of electrical appliances along with the significantly higher fuel and electricity prices, due to the expected high cost of production and wage labor, and therefore reflected on all the final products.