Minister of Industry, Trade and SMEs Tarek Qabil announced that Bertazzoni Group decided to pump €55m new investments to establish cookers factory in Egypt, using the most advanced international technologies.
This factory represents a major addition to the home appliance industry in Egypt, since the project comes in line with ministry’s strategy to deepen national industry through boosting the local component rate in manufacturing process- which amounts to 60% in this product- Qabil noted.
These remarks came during the minister’s meeting with company’s Chairman Paolo Bertazzoni, in the presence of El-Araby Group CEO Mohamed El-Araby.
The minister said that the new factory’s construction will begin in August of next year and provides nearly 1,000 direct jobs. 50% of its production will be allocated for exporting to all markets, especially those associated with Egypt through free trade area (FTA) agreements, such as Africa, Europe, and the Middle East.
Bertazzoni Italia Chairperson of the Board Paulo Bertazzoni said that the Egyptian market is one of the most promising markets in the world for the company.
Moreover, he pointed out that the company aims at making Egypt its export hub to pump its products into different markets, in particular the African market.
El-Araby Group CEO Mohamed El-Araby said that their partnership with the Italian group comes as part of the company’s plan to expand the home appliance industry, in order to cover local needs and boost exports.
