The French Memscap has officially announced its intention to invest $100 million in the establishment of an electronic circuits factory in Egypt’s 6th of October City. The new project will be spread over a 40,000 square meter area and si expected to create over 3,000 new jobs for local engineers and technicians. The construction works on the new factory are projected to reach completion by the end of next year.
During April 2001, the Egyptian Minister of Telecommunication and Information Ahmad Nadhif, hosted John Mitchel, Memscap’s board of directors chairman, to discuss the French optical-technology and passive components manufacturer’s plans involving Egypt.
In a less positive development for Egypt’s growing hi-tech industry, the US giant Intel decided to put off its plan to set up a computer chip factory also in the 6th of October City. Intel officials explained that this decision was taken in accordance with the global economic conditions.
This development contradicts a latest statement by Jurgen Thiel, Intel’s regional director for Eastern Europe, Middle East and Africa, who said that Intel is working hard in Egypt "to bring in the latest technology and develop it".
MEMSCAP is a provider of MEMS-based solutions for the design, development and manufacture of telecommunications products. MEMSCAP offers MEMS telecommunications solutions that include components, component designs, computer-aided design tools and related services. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
