Germany’s BSH-Siemens to pump €80 mln investments in Egypt

Germany’s BSH-Siemens seeks to inject investments of €800 million ($988.7 million) in Egypt to produce home appliances, Egyptian Industrial Development Authority’s head Ahmed Abdel Razek said.

He made these remarks during his meeting with Johannes Närger, BSH-Siemens’ Member of the Board of Management Chief Financial Officer in order to discuss the company’s request to establish a plant to produce home appliances.

He added that the project’s first phase includes production line to produce cookers and home heaters with capacity of 400,000 units. The project will be set over 40,000-metre square in one of the new industrial cities.