CAIRO - 30 March 2024: Prime Minister Mostafa Madbouly visited the Haier Industrial Complex accompanied by the Minister of Trade and Industry Engineer Ahmed Samir and CEO of the General Authority for Investment and Free Zones, Hossam Heiba, as part of his inspection tour of various factories in 10th of Ramadan City.
During the tour, Madbouly highlighted the significant role played by the industrial sector in driving the national economy and its potential to lead development efforts in the country. He expressed Egypt’s objective of achieving self-sufficiency in meeting domestic product demands and emphasized the importance of localizing industries through collaboration with the private sector.
The Haier complex has $135 million in foreign direct investments, spans an area of 200,000 square meters and encompasses six factories across two stages. The first stage, covering 70,000 square meters, includes the production of televisions, washing machines, air conditioners, and related industries. The complex aims to produce one million units annually, with 30 percent earmarked for export and 70 percent to meet local market demand. The local component is set to reach 60 percent initially and increase to 70 percent within two years. Trial operations and mass production of televisions and air conditioners commenced in March.
General Manager of Haier Egypt, Ahmed El Gendy, provided an overview of the Haier Integrated Industrial Complex. He highlighted Haier International's status as the world's top brand in household appliances, with a presence in over 200 countries and 122 factories across the globe. El Gendy explained that Haier Egypt, established in 2019 as a regional manufacturing and export center for the Middle East and Africa, developed a substantial investment plan in coordination with the parent company in China.
The second phase of the project, with investments of $60 million, will include freezer and refrigerator factories, along with industries supporting them. This phase is projected to produce over half a million units annually. Additionally, the industrial complex will house a factory for metal forming, plastic injection, and paints to ensure high-quality production inputs for the final products.
The company's director expressed gratitude for the government's support and the golden license obtained, which facilitated the smooth implementation of the project. He mentioned the addition of a new production line for central air conditioning devices and the company's consideration of investing in a complex for high-capacity central air conditioning devices.
During the visit, the Prime Minister addressed the company's request for land to complete the second phase of the project, directing the immediate provision of the required plot. He also instructed relevant authorities to fulfill the company's gas requirements.
The Haier Industrial Complex is expected to generate over 3,000 job opportunities for Egyptian youth. The company aims to triple its production volume over the next five years and achieve a business volume of $200 million within four years.
Furthermore, the complex will house a training center focused on manufacturing skills and the latest technology, contributing to the development of a highly skilled workforce aligned with the demands of the labor market.
Madbouly continued his tour of the industrial complex, inspecting the central air conditioning production lines scheduled to commence operations in April, as well as the metal and plastic production lines, home air conditioning production line, and television production line.
The Prime Minister commended Haier's ambitious plans to expand investments, introduce new production lines to meet local market demands, and reduce the country's import bill. The government aims to foster partnerships with committed investors to achieve these objectives and promote economic growth.
Comments
Leave a Comment