Samsung Electronics this week said it will build its first-ever factory in the Middle East and Africa (MEA), confirming the firm’s long-standing pledge to the region.
The plant will be situated in Egypt’s Kom Abu Radi Industrial Zone, Al Wasta City, Beni Suef and is likely to be functional later this year.
Samsung signed a contract with Egyptian officials in September 2012 to invest $279.3m in its first plant in the Beni Suef in a move to create 1,400 new jobs.
The new factory, which will be spread over 366.000 square meters of land, is poised to grow the diversity of Samsung’s creative products that will be accessible to clients across the region.
The plant is likely to put more emphasis on the manufacturing of TV sets and monitors and other state-of-the-art tools. The factory will supply products to Egypt and 10 other middle east and African countries by the close of 2016.
– As technology is constantly becoming an integral component of everyday life, we welcome the first Samsung factory in MEA, said Dr. Hesham Kandil, the Prime Minister of Egypt.
-As a market, we recognize that there are diverse business opportunities across a broad range of industry sectors which is why we always welcome and encourage foreign investment, such as Samsung’s.
The output from the plant is estimated to reach two million units in the next five years.
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