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