Back to the complete issue
Sunday, 6 September 2020

LG Egypt to invest USD 50 mn in manufacturing facilities over the next three years

INVESTMENT WATCH- LG Egypt to invest USD 50 mn in manufacturing over the coming three years: LG Egypt is planning to invest some USD 10 mn this year to boost its household appliance manufacturing capabilities in addition to committing USD 40 mn over the next three years to add new product lines and spare part manufacturing to its existing Tenth of Ramadan facilities, said General Authority for Investment and Freezones (GAFI) head Mohamed Abdel Wahab during a meeting with LG Egypt’s managing director Billy Kim last week. LG Egypt is looking to up its production capabilities to manufacture television screens, refrigerators, washing machines and microwave ovens as well as positioning its Egypt unit towards becoming a spare parts production hub for the Middle East and North Africa.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.