Beko lays foundation stone for new $100mln home appliance plant in Egypt

Beko lays foundation stone for new $100mln home appliance plant in Egypt

Beko Egypt for home appliances, a subsidiary of Arçelik, Saturday celebrated laying the foundation stone for its first factory in Egypt at the 10th of Ramadan Industrial Zone. The plant will be built on a total area of 114,000 sqm.

The state-of-the-art manufacturing site is on the heels of fruitful discussions between the Egyptian government and Arçelik, a global household appliances manufacturer and a subsidiary of Koç Holding. Both parties had come together to explore investment opportunities and means to increase local employment and create value for local industries and communities.

The investment marks a significant milestone and is expected to boost the regional economy by creating more than 2,000 jobs and transferring technical know-how. In addition, the factory will develop local supplier ecosystems to create sustainable value for all industries while supporting the government’s long-term strategy to drive industrial localization and establish Egypt as a significant production and export hub to overseas markets.

Scheduled to begin operations by Q4 2023, the plant is projected to manufacture an annual capacity of 1.5 million household appliances, more than 60% planned for export to Europe, the Middle East & Africa as “Made in Egypt”, with around $250mn in annual export potential. The first phase of