Cairo – Mubasher: Raya Holding for Financial Investment on Thursday announced that its subsidiary Bariq Technologies Industries is considering expanding in order to double its production capacity.
Bariq will pump up to EGP 250 million in investments in the coming period as part of the expansion scheme, Raya said in a statement to the Egyptian Exchange (EGX).
Bariq aims to double production capacity by adding new production lines to its factory in the 6th of October city and upgrading its infrastructure, as well as training employees and workers there, according to the statement.
Raya, which holds 100% of Bariq, previously said it was seeking to expand overseas along with maintaining new investments in the local market.
