Samsung Electronics Co., the South Korean technology powerhouse, will begin production at its factory in Upper Egypt in June, Trade Minister Hatem Saleh said in a statement on Monday.
The company plans to produce 2 million units of TVs and screens in the first phase at the factory in Beni Suef, which was built with investments totalling LE1.8 billion (approx. $257m).
It expects to achieve exports worth $1 billion in the first years of operations, according to the statement.
The factory is Samsung's biggest compound in the Middle East and Africa and is expected to provide 2,000 jobs.