China's home appliance giant Haier inaugurates industrial park in Egypt
Africa
By
Xinhua
| May 03, 2024
China's home appliance giant Haier inaugurated Thursday its first industrial park in Egypt in 10th of Ramadan, a city northeast of Cairo.
Haier Smart Home Co. Ltd., a subsidiary of the Haier Group, invests 135 million U.S. dollars to build the Haier Egypt Ecological Park.
Once fully built, it will cover an area of 200,000 square meters with an annual planned production capacity of more than 1.5 million units of home appliances.
Song Yujun, a vice president at Haier Smart Home overseeing its ecosystem platform, said at the opening ceremony that the park, at its planned capacity, will not only meet Egypt's market demands but can be export-ready to neighboring markets.
Trial production is in the swing in the first phase of the industrial park with air-conditioners, televisions and washing machines rolling off the line, Haier Egypt General Manager Ahmed Mossad El Gendi told Xinhua during a media tour at the plant.
READ MORE
Trump threatens trade war on Mexico, Canada, China
Tribunal orders Stanbic Bank to pay KRA Sh234m in tax claim
Top banks build Sh230b war chest for bad loans amid economic gloom
Kendu Bay: Sleepy fishing town that no lender will bank on
Why Kenya's export strategy needs more effort to grow markets
Big manufacturers on the spot for sidelining smaller players
Diaspora investment conference to focus on skills transfer, labour migration
Leadership gaps prompt new approach to gender parity
Local businesses urged to embrace sustainable practices
Behind-the-scenes rush as clock ticks for sale of Bamburi Cement
Gendi noted the park will create 3,000 local jobs and have 40-65 percent of its spare parts localized once the project's second phase is completed.