Cairo – Mubasher: Dubai-based IKU plans to establish a new factory in Egypt to assemble mobile phones.

The Emirati mobile phones manufacturer has allocated an estimated $17 million in investments for the first phase of the project, local newspaper Shorouk reported, citing general manager Sherif Ackef.

The factory is expected to be built with a production capacity of 1.8 million cell phones a year, Ackef said.

He further noted that the anticipated project would be the second of its kind in the Egyptian market.