France-based home appliances manufacturer Mienta has reached a deal to build its third factory and warehouse in Egypt.
The development will see an initial investment of $5m and is expected to have a potential manufacturing capacity of 650,000 units by 2025.
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The factory and warehouse are expected to be built on a 20,000m² plot of land next year as part of the Industria Sokhna project.
The deal falls under the land allocation agreements made by Mienta and Elsewedy Industrial Development, a subsidiary of Elsewedy Electric.
The agreement is part of Mienta’s strategy to establish itself as an export centre in the Middle East and North Africa (MENA) region.
Egypt’s domestic manufacturing capabilities and consequent economic state are expected to improve as a result of this project.
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By GlobalDataFurthermore, the new factory’s opening is expected to provide 250 job opportunities to young people in the area.
The plant is set to extend the company’s product line to include 60 distinct items, ranging from kitchen and culinary tools to general home appliances.
Previously, the company limited its local production to 35 goods and imported the rest of its items.
Mienta’s managing director Nicolas Bouris was quoted by Zawya as saying: “The factory is projected to achieve its maximum capacity of 650,000 appliances by 2025. Additionally, the site encompasses a warehouse equipped with storage capabilities for more than 200 containers.”
