El Araby Group aims to open a EGP 600 mn washing machine factory in 4Q2019 as part of plans to build 12 factories in Beni Suef by 2022, Vice President Ibrahim El Araby told Al Mal. The factory will eventually produce 1 mn washing machines per year, half of which will be sold on the local market, while the other half will be earmarked for exports.

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