US-based confectionery giant Mars Incorporated inaugurated a new chocolate production line at its factory in Giza's 6 October industrial zone on Sunday.
The Twix production line, which will source 60 percent of its inputs from local suppliers, cost $80 million and will create 300 new jobs in Egypt, according to the American embassy in Cairo.
The inauguration ceremony was attended by US Ambassador to Egypt Anne Patterson, who lauded the investment by the worldwide chocolate and confection maker
"This bold step is just the type of American investment that the US Embassy applauds, and I am glad to see that Mars is expanding its commitment here to Egypt," she said. "The scope of this expansion is very impressive and it shows just how much American companies have to offer Egypt."
Since 2005, Mars North Africa and Levant Division, headquartered in Cairo but serving more than 10 countries in the region, has invested over $120 million, and plans to invest a further $245 million over the next ten years.