IKU to open a cell phone plant in Egypt

Cairo – 19 April 2018: Cell phone company IKU announced its determination to open a cell phone plant in Egypt, 80% of employees who will be Egyptian, general manager Sherif Akef said.

He also pointed that the Ministry of Communications has worked with specialized centers for the training of labor, which was one of the most difficult obstacles facing investors looking for trained labor.

Akef said the first stage of the plant will cost about $15 million. He stressed that the investment climate with the new Investment Law and the provision of an attractive investment infrastructure in the field of manufacturing have prompted the company to think about establishing the plant in Egypt.

Akef said during a phone call with Amr Abdel Hamid of Raaey Aam (Public Opinion) program, broadcastedby TEN, that the factory will not only produce mobile phones, but also a number of other products, such as televisions.

IKU chose Egypt, besides China, to be a center for manufacturing mobile phones to meet the needs of the Egyptian market and neighboring markets, Akef added.