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Samsung inks contract to build $279m Egypt plant
- Egypt: Thursday, September 13 - 2012 at 11:52
Samsung Electronics has signed a contract with Egypt's General Authority for Investment (GAFI) to invest EGP1.7bn ($279.3m) on building its first Egyptian plant in Beni Suef, Ahram has reported. The company will eventually invest EGP9bn in a series of new factories in the governorate, just south of Cairo. Samsung's new factory will be Egypt's first in the Middle East and North Africa and is set to begin production in the first half of 2013. It will export locally assembled electronics devices to other Arab countries.
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