Samsung to invest USD 280mn in first Middle East factory in Egypt.

By bne IntelliNews September 12, 2012
South Koreas Samsung Electronics plans to invest EGP 1.7bn (USD 279.3mn) to build a TV and monitor plant in Egypt, which will be its first production facility in the Middle East and Africa (MEA) region, Ahram Online reported citing Reuters and MENA news agencies. For the purpose, the company signed a memorandum of understanding with Egypts authorities. The plant is to be built in Beni Suefs governorate and is to become operational in the first half of 2013, creating 1,400 jobs.

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