Japanese car parts giant Sumitomo opens new €22 mln plant in Egypt - Markets & Companies
Prime Minister Mostafa Madbouly inaugurated a €22 million factory for car wiring systems in 10th of Ramadan City, operated by the Japanese company Sumitomo Electric on Tuesday.
The facility, one of the world's largest for manufacturing electrical wiring harnesses for vehicles, is run by local subsidiary SE Wiring Systems Egypt. It will produce for export and create around 3,000 jobs.
The factory occupies part of a 150,000-square-metre site, will create around 3,000 direct jobs, and is planned to be fully operational by 2027.
Sumitomo already runs 14 factories in Egypt—in Port Said, 6th of October City and 10th of Ramadan—with a combined workforce of 12,000.
All output is exported, generating €900 million in sales over the past five years, including €260 million in the last year.
The new plant includes production lines, a training centre, and a research and development facility. It is also equipped with a solar energy system.
At the launch, Madbouly said the site would strengthen Egypt's global automotive supply chain position. He added that manufacturers, including Toyota, now source wiring components from Egypt.
The factory is also working with the Ministry of Education to train vocational students. It can accommodate up to 600 trainees a day.
During the factory's opening ceremony, Japan's ambassador to Egypt, Fumio Iwai, described the project as a model for private-sector cooperation and said Japan would continue to support Egypt's industrial development.
Egypt's Minister of Industry and Transport Kamel El-Wazir and a host of officials representing Sumitomo's global heads and directors were also in attendance.
Follow us on:
Facebook
Instagram
Whatsapp
Short link:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
20 hours ago
- See - Sada Elbalad
PM Attends Official Launch of 5G Mobile Services in Egypt
Taarek Refaat Prime Minister Mostafa Madbouly attended the celebration held by the Ministry of Communications and Information Technology to mark the official launch of 5G mobile services in Egypt. The ceremony was held at the foot of the Pyramids in Giza Governorate, in the presence of several ministers, the Governor of Giza, and several former ministers of communications and information technology. The ceremony was attended by Mohamed Shamroukh, Executive Chairman of the National Telecom Regulatory Authority (NTRA); Mohamed Nasr El-Din, Managing Director and CEO of Telecom Egypt; Mohamed Kamal Abdallah, CEO and Managing Director of Vodafone Egypt; Yasser Shaker, CEO of Orange Egypt; and Hazem Metwally, CEO of E& Misr. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream
Al-Ahram Weekly
a day ago
- Al-Ahram Weekly
Egypt to launch 5G services Wednesday - Economy
Four mobile network operators, Vodafone Egypt, Orange Egypt, e& Egypt, and Telecom Egypt, are set to offer the service to their customers after investing $2.7 billion in 5G spectrum and licenses since 2019. Prime Minister Mostafa Madbouly and a host of ministers are expected at the launch event held in the Pyramids area. 5G networks bring high-speed capabilities to telecom users, fostering innovation and development across various applications. They also enable the control of numerous devices simultaneously, a pivotal capability for revolutionary applications in smart cities, healthcare services, and other advanced applications. Last October, Minister of Communications and Information Technology Amr Talaat stressed that 5G technology will transform the national economy, boosting ongoing digital transformation and improving its ranking in international indicators in the communications and information technology sector.
CairoScene
2 days ago
- CairoScene
Saudi Cultural Fund Spotlights Creative Economy at Expo 2025 Osaka
A cultural networking event at the Saudi Pavilion explored how entrepreneurship shapes Saudi Arabia's creative future. Saudi Arabia's Cultural Development Fund (CDF) hosted a networking event at Expo 2025 Osaka, offering an inside look at how the Kingdom's growing cultural economy is gaining global momentum. Held at the Saudi Pavilion, the event—titled 'Cultural Entrepreneurship in Saudi Arabia: Fostering Innovation and Heritage'—brought together cultural leaders, entrepreneurs, and international investors to discuss the intersection of heritage, innovation, and economic growth. The panel was moderated by cultural researcher and podcast host Saba Alkhamis, and featured CDF's Chief Credit & Investment Officer Basil Al Alola, Darren Barker of cultural consultancy Barker Langham, and Hessa Alajaji, founder of Saudi design brand Accents. Together, they explored the rise of creative entrepreneurship in the Kingdom, and the role of cultural funding in enabling sustainable growth across sectors. Saudi Ambassador to Japan Dr. Ghazi Faisal Binzagr joined the event, highlighting ongoing efforts to build cultural bridges between Saudi Arabia and Japan. The evening also included a musical performance by Japanese violinist and composer Ikuko Kawai. The event coincided with Saudi Arabia's 2025 Year of Handicrafts initiative, and included a showcase of artisan-made works developed through CDF-supported collaborations. Guests were invited to engage with pieces that reflect the depth of Saudi Arabia's artistic heritage—part of the broader push to centre culture as a pillar of the country's economic diversification. CDF's presence at Expo 2025 Osaka includes a range of activations highlighting investment opportunities across the Kingdom's cultural industries. From panel discussions to tailored financing initiatives, the Fund aims to connect with global partners and spotlight success stories across all 16 officially recognised cultural sectors. Founded in 2021 under the Saudi National Development Fund, the Cultural Development Fund works to enable a self-sustaining creative economy in line with Vision 2030 and the National Culture Strategy.
