Japan’s Sumitomo signed an initial agreement with Egypt’s General Authority for Investment and Free Zones with the intent of building its largest factory in the North African country for the manufacturing of automotive wire harnesses.
The facility, to be located in the 10th of Ramadan city, will be built over an area of 150,000 sq. meters, according to a Cabinet statement.
The planned investment has not been disclosed yet.
The project, said the managing director of Sumitomo Egypt, Ahmed Magdy, will take a year and a half to be completed and is expected to start operations by 2023 end.
Sumitomo already has eight production sites in Egypt and it exports its products to international car manufacturers in Europe and the Middle East.
