Kandil: Samsung’s 1st Factory In Egypt To Start Experimental Work By Mid-April
Published Wednesday, 30 January 2013 11:51 | Written by Amwal Al Ghad
Egyptian Prime Minister Hisham Kandil has revealed that Beni Suef Governor Maher Bebars informed him during a phone call on Tuesday that Samsung Electronics Ltd., the world's largest information technology company measured by 2012 revenues, will start the experimental operations in its first factory in Egypt’s Kom Abu Radi by mid-April.
Dr. Kandi noted that Samsung’s new factory will make investments worth EGP 9 billion providing around 6 thousand job opportunities through the factory’s 7 stages.
On his personal Facebook page, the prime minister further said Beni Suef’s Kom Abu Radi, Bayad Al-Arab and 31/1 for Heavy Industries have managed to allure new local, Arab and foreign investments totaled at 147 projects worth EGP 21.332 billion which will create 25 thousand job opportunities for the governorate citizens.
On September 11th, Hady Barakat - Factory Assistant Manager at Samsung Electronics – made a statement to Amwal Al Ghad, noting that the company is designed to manufacture 2 million television screens and LCDs within the coming 5 years through its new factory which will be established in Egypt in Beni Suef’s Kom Abu Radi.
Lee Kun-hee, Chairman of Samsung Electronics, emphasized that his company chose to establish its factory in Egypt because of its unique geographical location, noting that the factory will produce television screens and LCDs at the first stage of the factory which will generate many job opportunities.
Nevin El Shafei, Vice Chairman of the General Authority for Investment (GAFI), stated in a speech delivered on behalf of the Minister of Investment Osama Saleh, that the factory will be built on a space of nearly 3700 m2 in Abu Radi in Kom Abu Radi, at an investment cost reaches up to EGP 1.7 billion. This factory will create 1400 job opportunities directly and 2000 indirectly.
International News Videos »
Local News Videos »
Most Popular »
- Petrobel builds 65MW dual-fuel power plant to fill energy needs
- BREAKING: Egyptian Military helicopter crashed in Cairo-Ismailia Road
- Turkey's Erdogan says wishes Russian plane downing had not happened
- Egypt's water and sewage systems require $122.7 million for upgrade
- Egypt expects to start power output from 1st nuclear reactor by 2024 - PM