The 150,000m2 will be built with an investment of around $100 by the Egyptian unit of the Japan-based Sumitomo.
According to Sumitomo Egypt’s managing director Ahmed Magdy, the plant will commence production before the end of next year.
The complete production from the factory will serve export markets.
Sumitomo Egypt will develop a raw material storage warehouse, which will serve as a distribution hub for North and Middle Africa.
The project is expected to create around 10,000 jobs and will become operational by the end of next year.
Meanwhile, in a separate development, Chinese electronics manufacturer OPPO has signed a memorandum of understanding with Egypt’s Information Technology Industry Development Agency to build a mobile phone manufacturing plant, reported Zawya.
The plant in Egypt will be built with an investment of $20m.
It is expected to have an annual manufacturing capacity of 4.5 million units and create 900 jobs over the next three to five years.
Image: The complete production from the factory will serve export markets. Credit: Volker Lekies from Pixabay.