Prime Minister, Mostafa Madbouly, emphasized the significance of the Haier project for the Egyptian market, highlighting its heavy utilization of local components. The project aims to deliver top-notch products at affordable prices through the establishment of a comprehensive complex, backed by investments totaling $135 million.

This came during his meeting with CEO of Haier International Group and his accompanying delegation.

Madbouly added that President Abdel Fattah El-Sisi inaugurated the first phase of the Haier Industrial Complex last May.

He expressed his aspiration for the speedy implementation of the second phase, which will produce refrigerators and deep freezers, in preparation for the start of the third phase, through which Haier aims to manufacture central air conditioning units.

It is expected that Haier's total global investments after the completion of the third phase will reach about $500 million.

The company is currently expanding its investments with a value of $40 million to produce central air conditioning on an area of ​​40 thousand square meters, Minister of Investments and Foreign Trade confirmed.