Raya to begin manufacturing air conditioners in USD 4 mn factory in Egypt

Home appliance distributor Raya Trade is mulling between Sadat City and 6 October for the location of their USD 4 mn air conditioner factory, CEO Bassem Megahed tells Al Mal. There was no mention of the project’s timeline or annual capacity. The company is also studying a separate EGP 300 mn facility, in partnership with Samsung, to manufacture top-loading washing machines.