Yasser El-kady, Chinese delegation Discuss Establishing Electronics FactorySource: www.export-egypt.com 6/21/2016, Location: Africa |
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Minister of Telecommunications and Information Technology Yasser El-Kady received a delegation of the Chinese Megan Group.
The meeting dealt with arrangements to embark on establishing a new factory on an area of 3,600 meters in Borg Al-Arab Technology park to manufacture a range of modern electronic devices in Egypt, on top of which are smart phones in cooperation with the Egyptian company SICO Technology. The minister reviewed measures taken by the government to boost investments in the country. An agreement between SICO and Megan was signed in May in the Chinese city of Shenzhen, the capital of the electronics industry in the world, to establish the new factory in Borg Al-Arab. SICO and Megan have agreed to start the project in January 2017 and the full manufacturing to begin in January 2018, directing at least 65% of the factory's production capacity for exporting as Sico owns market shares in the Gulf and Eastern Europe countries. |
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