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Monday, 9 December 2019

Raya Holding to invest EGP 1 bn in home appliance production lines

INVESTMENT WATCH- Raya Holding to invest EGP 1 bn in home appliance production lines: Raya Holding is planning to set up several new home appliance production lines, an investment that could cost as much as EGP 1 bn, Chairman Medhat Khalil tells Al Mal. The group is in talks with two manufacturers based in East Asia to produce their brands domestically, sourcing at least 60% of the components from local companies, Khalil said. The first production line will produce air conditioners and will begin operating at the beginning of next year. The second, which we took note of last month, will produce Samsung washing machines, and is slated to come online follow shortly after. The company will also begin manufacturing refrigerators and televisions in 2020.

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