DANEVO to establish security device plant

Security systems distributor DANEVO is planning to establish a 5,000 sqm factory in either Port Said or the Suez Canal Economic Zone (SCZone) to produce remote control and gate and security systems, the firm’s Regional Director Mohammed Abdullah tells Al Borsa. The plant will aim to source 30% of its production inputs locally in its first year in operation and gradually increase that level over time. No details on investment value or timeline were provided.