Cairo – Mubasher: Egyptian company Electrostar is planning to open two new plants in the home appliances sector in cooperation with Haier at investments exceeding EGP 150 million, Al Shorouk newspaper reported, citing chairman Mohamed Al Menoufy as saying.
The first plant will focus on producing refrigerators and deep freezers, while the second is responsible for the production of television sets, the top official told the newspaper.
Electrostar plans to double the volume of its exports, as well as enter new markets in the coming period, the chairman said, noting that through this step, the company aims to make up for the decline in sales in the local Egyptian market.
The Egyptian home appliances firm is targeting EGP 1 billion in sales in 2017, compared to EGP 500 million in 2016.
