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Sumitomo updates Egypt wire plant project

Japan’s Sumitomo Corporation announced that it has received “the golden License” to build the largest factory worldwide for the production of electric vehicles’ (EVs) wiring harness in Egypt with around $100 million in investment, according to a statement by General Authority for Investment and Free Zones (GAFI).

The project, announced last September, calls for the site to extend over an area of 150,000 square meters under the free zone system. It includes a raw material storage warehouse to be used as a distribution hub for North and Middle Africa. Production is set to be exported to global manufacturers of cars in Europe and the Middle East. During a recent meeting, GAFI
CEO Hossam Haiba and officials from Sumitomo discussed the company’s expansion plan in Egypt for coming period as well as the aspects of support provided by the Egyptian government to back the Japanese company’s investments.

Read 351 times Last modified on June 4, 2023