Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib has laid the foundation of the second phase of Haier’s new industrial park in Egypt on September 23^rd, as per a statement.

Established on an area of 50,000 square meters with nearly $40 million in investments, the park’s second phase encompasses the manufacturing of fridges and freezers.

The production capacity of this phase is expected to reach 300,000 units.

El-Khatib noted that the company is currently expanding its investments to produce central air conditioners on a 40,000-square-meter area.

It is worth noting that the park's first phase was inaugurated last May, and it involves the manufacturing of low air conditioners, TVs, and washing machines.

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