China’s Haier Smart Home to build $130 million industrial complex in Egypt

By Yomna Yasser On Aug 4, 2022

Haier Smart Home Egypt — Egyptian Prime Minister Mostafa Madbouly with Mohamed Abdel-Wahab, chief executive of the Egyptian General Authority for Investment and Free Zones (GAFI) and officials at China’s Haier Smart Home Co. after signing a memorandum of understanding to establish an industrial complex for home appliances and feeding industries in Egypt, with investments worth up to $130 million. The signing ceremony took place at the Egyptian Cabinet’s new headquarters in New Alamein City on Thursday, August 4, 2022 (Egyptian Cabinet Photo)

China’s Haier Smart Home Co. has on Thursday signed a memorandum of understanding to establish an industrial complex for home appliances and feeding industries in Egypt, with investments worth up to $130 million.

The complex will be built on a space of up to 200,000 square metres in the Tenth of Ramadan City, according to an Egyptian Cabinet statement.

Mohamed Abdel-Wahab, chief executive of the Egyptian General Authority for Investment and Free Zones (GAFI), has signed the memorandum with Li Huagang, director of Haier Smart Home, in the presence of Egypt’s Prime Minister Mostafa Madbouly at the Egyptian Cabinet’s new headquarters in New Alamein City.

The project will be financed through direct investments and will provide more than 2,000 job opportunities, said Abdel-Wahab, chief executive of the GAFI.

The facility will produce around 900,000 home appliances per year, he added.

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