India’s Wipro eyes constructing $66mln-Cosmetics Factory in Egypt

Indian Wipro Ltd is currently studying establishing a cosmetics factory in Egypt, with investments worth 500 million Egyptian pounds (US$65.5million), Hanna Emil- General Manager in Egypt and North Afirca – said Saturday.

Emil made these remarks on the sidelines of SUPERMARKET EXPO 2015 held from 13-16 June 2015 in Cairo International Convention Centre (CICC).

Wipro Ltd (NYSE:WIT) is a global information technology, consulting and outsourcing company with 158,217 employees serving clients in 175+ cities across 6 continents.

Emil has praised the Egyptian investment climate, asserting that it is prominent and has lots of investment opportunities.

He noted that Wipro – that owns large investments in a number of Arab states- has achieved the highest growth rates in Egypt; 40%, as the total volume of firm’s sales has reached around EGP20 million in 2014.

Emil urged more financial incentives for the investors in addition to facilitating the procedures of registering cosmetics.

Furthermore, SUPERMARKET EXPO 2015, held annually in Cairo, is the Arab world’s biggest and most dynamic food, beverage, cosmetics and detergents market.

Moreover, it attracts national and international trade buyers looking to secure business partnerships and deals with retailers, food manufacturers, toiletries and household product suppliers, distributors, packaging firms and supply companies.