Japan’s Yazaki initiates construction of $32.5 mln auto parts factory in Egypt

The facility is projected to be completed by the end of 2024, with production from the initial phase and export set to begin in the coming months.

The new facility will be situated on an area of around 70,000 square metres in Fayoum governorate, with expectations to create over 3,000 direct and indirect job opportunities.

Moreover, the factory will focus on exporting its production, with an estimated export value of up to 100 million euros annually, as per the statement.

During a visit to Egypt, the company delegation laid the foundation stone for the factory, followed by a meeting with Prime Minister Mostafa Madbouly.

Madbouly, expressing his enthusiasm, conveyed his desire to visit the factory at the earliest opportunity.

He further emphasized the factory's contribution to the localization of the automobile industry in line with the national strategy for industry localization.

The Egyptian government launched in June 2022 a national strategy for localizing the automotive industry to establish the country as a main gateway for emerging vehicle markets in Africa.

In July 2023, Yazaki signed an agreement with the governor of Fayoum, securing the land allocation for the forthcoming factory.

Additionally, in December 2022, the company obtained the golden license, which authorizes the commencement of work on this venture.

Yazaki, headquartered in Japan, boasts a global presence, operating across 45 countries with 140 units.