Prime Minister, Mostafa Madbouly, and Haier Electric Egypt’s Director, Ahmed El-Gendy, convened to discuss progress on the 10th of Ramadan Factories Complex.

 Haier Egypt Company is set to invest $165 million in the initial and subsequent phases, with an additional $65 million earmarked for the third phase. Moreover, an extra $50 million will be allocated for diversifying production towards export-oriented goods, as outlined by El-Gendy.

The company aims to kickstart production of refrigerators and deep freezers within the newly inaugurated complex on the 10th of Ramadan by this September.

 El-Gendy elaborated on the advancements within the company’s comprehensive industrial complex and the upcoming central air conditioning factory.

Emphasizing the strategy to manufacture VRF systems locally, El-Gendy detailed the various production stages, from manufacturing to final assembly, and exchanged ideas on specific proposals. This underlines a firm dedication to bolstering domestic manufacturing and industry localization.

El-Gendy also revealed the company’s forthcoming projects, leveraging Egypt’s lucrative investment landscape, demonstrating a keen interest in seizing the available opportunities for growth.