Japanese Saraya is set to invest US$10 million in a new cosmetics and pharmaceutical plant in Ain Sokhna, Egypt, according to a report published by Daily News Egypt.
The new industrial complex, which will boast three factories and span some 20,000 sq m, is currently under construction. One of the facilities on site will specialize in the extraction of oils from jojoba.
When complete, the plant will be the largest of its type in the world, according to the company and create some 1,500 jobs. Saraya’s President said that Egypt will be a major marketing and manufacturing hub for the company at both regional and continental levels.