(MENAFN- Daily News Egypt) Al Maalim International Company for General Supplying and Control Systems (AIC) has revealed that it is in negotiations with an international company, with the aim of establishing a factory of the company in Egypt on an area of 3,000 sqm, with initial investments worth EGP 50m.
Mahamoud Kamel, chairperson and managing director of AIC, said that the Egyptian market is considered promising; hence, the company made a decision to head towards manufacturing through establishing a centre for collection on one of the floors of the company's headquarters' in New Cairo. It is planned to be opened before the end of this year on an area of 550 sqm as a first step until the preparation of the headquarters of the factory is completely ready to be opened during the second half of 2018.
'The factory will manufacture several products affiliated to an international brand with a large market share,' Kamel said. He stressed that this step will help reduce importation from abroad and reduce the exit of foreign currencies outside Egypt and providing products as soon as possible, as well as export to the Arab region, the Middle East, and Africa, especially that AIC's factory is considered the first of its kind in the Middle East.
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