Electrostar invests EGP 150 mn in two manufacturing plants as it looks to deepen relationship with Haier

Mmm… We love the smell of investment in the morning. The drumbeat of investment news continues as white goods manufacturer Electrostar announced it plans to inaugurate two plants in cooperation with Chinese consumer electronics and home appliances manufacturer Haier at a total investment cost of EGP 150 mn, Chairman Mohamed El Menoufy told Al Shorouk. The first plant would produce refrigerators and freezers and the other will be used to produce television screens. El Menoufy says the company is looking to expand its exports and open new markets to compensate for weak sales domestically.