Egypt’s Ahram Security Group eyes setting up factory in Saudi Arabia

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The security solutions provider Ahram Security Group has embarked on preparing an integrated study to establish a new factory in an industrial city in Riyadh within 2025, the group’s Chairman Samir Aref told Al Arabiya Business.

Aref pointed out that the group is currently in talks with Saudi contracting firms and consultants to finalize the studies needed for the project, adding that the studies could take around six months to be completed.

The group might partner with a Suadi investor for the project, Aref said, expecting the factory’s construction works to start by early 2025 and to begin operations in 2026.

The factory aims to increase the group’s exports to the Gulf Cooperation Council (GCC) countries, as well as meet the demands of the Saudi market, Aref said.

It is worth noting that the group allocated EGP 800 million to further expand its business in the Egyptian market until 2026, Aref revealed previously.

He said that the group is currently in discussion with the National Bank of Egypt (NBE) to borrow around EGP 500 million of the funding needed for its expansion plan, while the remaining amount will self-financed along with a grant from the Ministry of Environment.