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Taiwan’s Rechi, Elaraby Group to build $33M factory in Beni Suef

Taiwan’s Rechi, Elaraby Group to build $33M factory in Beni Suef

Arab Finance: Taiwan-based Rechi Group will set up a factory for the production of air conditioning (AC) compressors in Egypt, in partnership with Elaraby Group, with $33 million in investments, Egyptian Minister of Trade and Industry Ahmed Samir revealed on September 21st.

The new project will be built on an area of 60,000 square meters (sqm) at the industrial zone of Kom Abu Rady in Beni Suef, and is planned to have a production capacity of six million compressors per annum, Samir noted.

The factory is set to be operational in 2024, with an initial production capacity of two million units that reach six million units within five years, he highlighted.

The project targets meeting the local market’s demand and exporting 50% of the output to regional and global markets, the minister added.

The local components will initially make up 50% of the output and will increase gradually, he pointed out.

Moreover, Samir stressed that his ministry is committed to encouraging global industrial companies to invest in the Egyptian market and contribute to the localization of technological industries while depending on available raw materials and natural resources in the Egyptian market.

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