LG Egypt discuss establishing second factory in Egypt
LG Egypt representatives met with the General Authority for the Suez Canal Economic Zone Chairman Ahmed Darwish to discuss establishing their second factory in Egypt in the Economic Zone, sources tell Al Borsa. The company will receive a USD14 million letter of credit from Banque Misr in the next three months, the source added. LG have yet to decide on what products the factory will manufacture, noting that the decision hangs on the investment opportunities presented by the authority. (Al Borsa, Enterprise)
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