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EL Maco to inject EGP200mln in renovating production lines

Thursday 01 November 2018 09:02 PM

El Maco
El Maco

By Omar Salem
El Nasr Transformers and Electrical Products (Maco) plans to modernize and revamp production lines at EGP200mln costs early 2019. 
Renovation costs will be secured through self-generated resources, according to  chairman Baseem Yusef  Baseem Yusef, adding that the company will rely on European counterparts to purchase new machines and upgrading the existing ones. 
Maco is negotiating with  importers from the Arab Countries, including some from the Saudi Arabia, in order  to seal export contracts worth EGP100mln, he added. 
According to previous statements, Yusef said that Maco managed to sign off electric transformers exports to Kuwait and other deals are in the pipeline.