Beko Egypt on track to open $100mln home appliances factory in Egypt in Q4

Beko Egypt is on track to open its $100 million plant in the 10th of Ramadan City in the fourth quarter of 2023, the company said in a press statement.

The disclosure was made in the statement announcing the meeting between Egyptian Minister of Trade and Industry Ahmed Samir and Umit Günel, General Manager of Beko Egypt in Ankara.

The plant, spread over 114,000 square meters, will have an annual production capacity of 1.5 million devices and will export 60 percent of its output to Europe, the Middle East, and Africa. 

The statement noted that the project's estimated yearly export potential is $250 million.

Günel outlined Beko Egypt's ambitious plans to deepen localisation and make Egypt a global export hub for household appliances.

He said the new plant would operate with renewable energy, promoting a "Zero Waste" approach, and initially focus on producing energy-efficient refrigerators and ovens. He added that the project is expected to create over 2,000 job opportunities for Egyptian youth, while the plan to open 250 new showrooms and 50 service centres across Egypt will create more jobs.