Egypt Welcomes Four New Industrial Projects with $100 Million Investment

During a meeting with representatives from Signify Philips and Gila companies, Dr. Mostafa Madbouly, Prime Minister of Egypt, discussed a proposal to establish four new projects with investments totaling $100 million. The projects aim to create job opportunities for over 1000 engineers, workers, and technicians through the production of state-of-the-art LED lighting solutions and proposals. The first project includes the establishment of the first lighting factory in Egypt by the alliance, with direct foreign investments of $50 million.

Additionally, the alliance plans to expand manufacturing and assembling activities for medium and low voltage panels by constructing a new factory in the city of Tenth of Ramadan with $20 million in investments. Another project involves the establishment of a 40-megawatt solar power station, aiming to complete the project with investments of around $20 million to connect the station to the medium voltage network. The fourth project focuses on producing green hydrogen, with expected investments of about $16 million.

During the meeting, Jila, Signify Philips, and their partners expressed their appreciation for the Egyptian government’s efforts to attract investments. Mohamed Saad, General Manager of Signify Philips Lighting Egypt and North Africa, highlighted the company’s decision to establish a global manufacturing complex in Egypt to transfer modern technology in the field of lighting and export to various regions.

Engineer Ahmed Samir, Minister of Trade and Industry, encouraged Philips officials to work on localizing the medical devices industry in Egypt. Dr. Mostafa Madbouly welcomed the proposed projects and assured the government’s readiness to provide necessary support. The ministries and relevant authorities will study these projects and oversee their implementation to ensure their success.