Elaraby Group, Japan's Sharp sign $50M partnership to manufacture refrigerators, freezers

Updated 7/25/2024 10:59:00 AM
Elaraby Group, Japan's Sharp sign $50M partnership to manufacture refrigerators, freezers

Arab Finance: Egypt-based Elaraby Group inked a new partnership agreement with the Japanese company Sharp to manufacture refrigerators and deep freezers in Egypt, with investments amounting to $50 million, as per a statement.

The construction of the factory and installation of production lines would begin in the first quarter (Q1) of 2025, with manufacturing starting in Q1 of 2026.

The factory's initial production capacity will be 400,000 units annually, creating approximately 1,500 jobs for engineers, technicians, and administrators.

 

Related News