Germany’s Bosch to build its first industrial complex in Egypt

German automotive supplier Bosch has signed a cooperation agreement on Monday to build its first industrial complex in Egypt.

The complex by Bosch, which also makes home appliances and industrial products, will provide job opportunities for Egyptian youth, as well as training and cooperation opportunities with universities in the North African country, said Egyptian Prime Minister Moustafa Madbouli.

Speaking at a press conference in Germany, Madbouli said Bosh offered a size of production exceeding 1,6 million units annually.

Bosch currently operates in five countries, and after signing the agreement, Egypt would be the sixth market for the German company, the Egyptian prime minister added.