Japan’s Sumitomo to build $100mln factory for EVs wiring harness production in Egypt

Tokyo-based Sumitomo Corporation has received the golden License to build the largest factory worldwide for the production of electric vehicles’ (EVs) wiring harness in Egypt with around $100 million in investment, according to a statement by General Authority for Investment and Free Zones (GAFI) on April 11th.

The project is planned to extend over an area of 150,000 square meters under the free zone system.

The factory will offer about 10,000 new jobs, and its production is set to be exported to global manufacturers of cars in Europe and the Middle East.

This came during a meeting between CEO of GAFI Hossam Haiba and officials from Sumitomo to discuss the company’s expansion plan in Egypt over the coming period as well as the aspects of support provided by the Egyptian government to back the Japanese company’s investments.

Moreover, Haiba also met with the Japanese Ambassador to Cairo Oka Hiroshi, praising the great role played by Japanese companies in Egypt, especially with regard to technology transfer and support for sustainable development.

The two sides affirmed their keenness to enhance bilateral investment cooperation.