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
Safaricom braces for showdown with KRA on data demand
Safaricom posts Sh48b profit amid regulatory headwinds
How new tax proposals offer relief to Kenyans
Mudavadi asks Joho to withdraw new maritime regulations
KRA system failure delays export of tea worth Sh2.9 billion
Treasury CS spells out plans to lay ground for steady economic growth
MPs raise concerns over KRA's plan to monitor phones in tax compliance drive
Report shows Africa makes strides toward gender equality, but challenges remain
Government advocates for 'Buy Kenya-Build Kenya' at construction expo
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.