Arab Finance: Hisense Egypt has signed a contract with the industrial developer TEDA-Egypt to establish an electronics factory with $38 million in investments, in partnership with UAE’s FBB Tech, as per a statement.

The factory is set to be established on a 110,000-square-meter area in Sokhna Industrial Zone, with a production capacity of 2.5 million units.

In its first phase, the project aims to produce televisions, audio recorders, and screens, with 30% of production to be supplied to the local market and the remaining 70% to be exported to Europe, North and East Africa, and the Middle East.

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