Trade and Industry Minister Tareq Qabil laid on Thursday the foundation stone of an integrated industrial complex of El Araby Company for Home Appliances.

The minister was accompanied by Beni Suef Governor Sherif Habib. 

The first stage of the project is stretched over an area of 150,000 square meters, with a total investment estimated at EGP 2.4 billion.

Speaking on the occasion, the governor said that the project reflected the success of the state's plan in restoring the investors' confidence in the Egyptian investment climate at local and international levels. 

El Araby Company manufactures major and small appliances, including air conditioners, freezers, refrigerators, kitchen stoves, washing machines, as well as small appliances, including vacuum cleaners.

Source: MENA