Arab Finance: Electro Cable Egypt (ECE) (ELEC) is planning to build a new factory in Sadat City with investments of EGP 1 billion, according to a filing to the Egyptian Exchange (EGX) on Wednesday.

The company announced that relevant licenses for the new factory have not yet been issued.

Electro Cable is an Egypt-based public shareholding company that operates in the electric components manufacturing sector. The company manufactures and distributes power and telecommunication cables and wires in Egypt and abroad.

Its product portfolio includes low-, medium-, and high-tension power cables, isolated cables, and telephone communication cables.