Egypt’s Minister of Trade and Industry Ahmed Samir discussed with a delegation representing BSH Egypt company for home appliances led by CEO Luis Alvarez the company’s future action plans in the Egyptian market.
BSH Egypt is a trademark licensee of Bosch.
Samir said in a statement, quoted by the ministry Thursday that the company is now setting up a factory for producing cookers in the Tenth of Ramadan city to become the first factory of the company in Africa and the Middle East at total investments of over 50 million euros.
The factory will provide nearly 500 new job opportunities, he added.
The factory will start production in the last quarter of this year with a production capacity of 350,000 cookers annually in order to meet needs of local market and scale up exportation to foreign markets, according to him.
The minister said the ministry is keen on expanding investments of the company in the Egyptian market.
Alvarez said the company is committed to doing business in the Egyptian market.