2020-06-21 16:13:10 | by hatem | Latest news
Procter & Gamble injects US$50 mn in Egypt to manufacture masks and increase operations
The Procter & Gamble company announced Sunday that it will inject US$50 million in Egypt to establish a new production line to manufacture masks and increase operations at the company’s two factories in 6th of October City.
This comes as part of the company’s plans to expand exports and domestic manufacturing.
Procter & Gamble’s CEO for the North African area Tamer Hamed discussed plans to attract new investments within industries complementing the company’s activities, during a meeting with the executive chief of the General Authority for Investment and Free Zones.
The company’s investments and exports exceeded LE3.5 billion and LE200 million per year respectively, Hamed added.
He clarified the company exports products to around 35 countries, and provides 1,300 direct jobs and 10,000 indirect jobs.
Egypt’s Ministry of Social Solidarity will produce 40 million sustainable fabric face masks through ration cards, as an urgent necessity to stem the coronavirus outbreak.
The ministry is set to distribute 12 million masks nationwide during June, and 28 million during July and August. Each governorate will receive masks proportionate to the number of rations cards, with two masks at most for each card.