Beko Egypt, a subsidiary of Turkish white goods conglomerate Arçelik, will open its first factory in Egypt early 2024 instead of the fourth quarter of this year as previously announced.

The factory, located in the industrial city in the 10th of Ramadan area, spans an area of 114,000 square metres, and is being developed at total investment exceeding $100 million, according to the company's press statement.

In February 2023, Beko Egypt said it has appointed Hassan Allam Construction to build the factory.

Beko laid the foundation stone the factory in December 2022.

(Writing by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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