Beko Egypt is on track to open its $100 million plant in the 10th of Ramadan City in the fourth quarter of 2023, the company said in a press statement.

The disclosure was made in the statement announcing the meeting between Egyptian Minister of Trade and Industry Ahmed Samir and Umit Günel, General Manager of Beko Egypt in Ankara.

The plant, spread over 114,000 square meters, will have an annual production capacity of 1.5 million devices and will export 60 percent of its output to Europe, the Middle East, and Africa.