Samsung Electronics has reached an agreement with officials in Cairo to jointly build a TV and monitor production plant in Egypt.

The Korean electronics giant signed a memorandum of understanding with the Beni Suef Governorate at the Egyptian prime minister’s office in the capital on Tuesday and began construction on the facility.

It's the first TV and monitor plant for Samsung Electronics to build in the Middle East and Africa. It will be built on a 366-thousand square meter area within an industrial complex in the Beni Suef Governorate, located some 90 kilometers south of Cairo.

Samsung Electronics is aiming to produce two million units annually by 2017 at the plant.