Samsung plans to set up three factories in Egypt

Seung Yoon is said Egypt President of Samsung subsidiary Samsung Electronics of South Korea's, Tuesday, said his company plans to increase its investments in Egypt through the creation of three new plants at a cost of $ 300 million.

A press statement from the Egyptian Council of Ministers for Seung saying that Samsung in Beni Suef plant to produce TV screens and PC monitors the "export products estimated billion dollars which is equivalent to 85%" of the size of the factory production.

Samsung began pilot production from its plant in Beni Suef during the first half of 2013, which is the first in Africa and the Middle East.

Seong added that his company plans to increase its investments in Egypt, "through the establishment of three specialized factories for refrigerators, washing machines and adaptations investment cost of about $ 300 million," and that the application of "advanced and environmentally friendly new technology will be there."

The statement did not mention the date of the establishment of factories, but the company's president was quoted as saying that Samsung "faces a number of customs and tax difficulties .. and overcome these difficulties will contribute to accelerate the implementation of these factories."

The investment cost for the initial Samsung in Egypt 1.8 billion pounds and would rise to about 9 billion pounds by the end of 2017.

He was deputy director of the Samsung factory in Egypt, Ahmed Zuhair, said that his company aims to produce more than four million computer screen and TV in 2015, compared with 2.8 million last year.

The factory produced and exported to the Arab countries, Kenya, Rwanda, Turkey, the Netherlands and Slovakia.