Italian kitchen products manufacturer Bertazzoni-Italia is to pump investments of €55 million to establish cookers factory in Egypt, Trade Minister Tarek Qabil stated Wednesday.
Qabil said that the factory is a significant addition to the home appliance industry in Egypt since the project comes in line with ministry’s strategy to deepen national industry through boosting the volume of local component in manufacturing process.
The minister made remarks during his meeting with company’s Chairman Paolo Bertazzoni in the attendance of CEO of ElAraby Group Mohamed El-Araby.
He said the new factory’s construction will begin in August of next year and it will provide nearly 1,000 direct jobs.
A total of 50 per cent of the new factory will be allocated for exporting to all markets, especially those associated with Egypt through free trade area (FTA) agreements, such as Africa, Europe, and the Middle East.