Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib reviewed the latest developments of BSH Egypt’s project in the 10th of Ramadan City, according to an official statement.

During his meeting with Luis Alvarez, CEO of BSH Home Appliances, El-Khatib pointed out that the project marks the company’s first factory in Africa.

The project was granted a gold license to produce stoves, with an investment worth €55 million.

The factory will allocate 50% of its production for export to the Middle East and Africa markets, while the other 50% will be directed to the local market.

Meanwhile, Alvarez stressed the company's objectives to anchor Egypt’s position as a major industrial and export hub in the Middle East and Africa, noting that the project will be inaugurated next month.

Earlier this month, El-Khatib handed over nine new golden licenses to strategic investment projects.

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