The signing ceremony was in the presence of Prime Minister, Mostafa Madbouly.
Hisense, a leading manufacturer of electrical appliances based in Egypt, has entered into a $38 million contract with the Chinese industrial developer TEDA - Egypt in the Suez Canal Economic Zone (SCZone). This collaboration includes a partnership with the Emirati company FBB TECH.
The project will cover an area of 110 thousand square meters and a production capacity of 2.5 million units.
In its first phase, the project aims to produce televisions, audio recording devices, and screens, to export 30% to the local market and 70% to various countries of the world in Europe, North and East Africa, and the Middle East.
The signing ceremony was in the presence of Prime Minister, Mostafa Madbouly.
Chairman of the SCZone, Walid Gamal El-Din, stated that this signing comes in line with the commitment of the Authority towards achieving Egypt’s goals in supporting exports to reach $100 billion by 2030.
The SCZone’s location at the heart of the Belt and Road Initiative represents the meeting point between China and various global markets, El-Din added.
