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Sunday, 2 February 2020

Elaraby Group to invest EGP 1 bn in 2020 to expand production

INVESTMENT WATCH- Elaraby Group will invest EGP 1 bn this year in expanding its production capacity in Egypt, Vice President Ibrahim Elaraby told Al Mal. The company will spend EGP 500 mn on a La Germania gas cooker factory that is estimated to produce 500k units each year. Another EGP 500 mn will be invested in three other factories to manufacture fans, motors, and washing machines. Elaraby said that the company also plans to grow sales to EGP 22 bn in 2020, up from EGP 20 bn last year.

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