Prime Minister Mostafa Madboly inspected one of the factories of SE Wiring Systems Egypt company, which specializes in manufacturing electrical wiring systems and cables for cars of all kinds.
This came during his visit to a number of industrial projects in 10th of Ramadan City.
The company is affiliated to Japanese company Sumitomo, which is considered one of the largest economic entities in the world.
During his tour, the Prime Minister listened to an explanation from the factory director Ahmed Magdy who reviewed the stages of work and the production cycle in the factory, which was opened during the second half of 2022, after signing a memorandum of understanding with the General Authority for Investment and Free Zones.
Magdy explained that the work in this factory comes as a preparatory step for hiring and training new employees before the opening of the huge factory during the year 2024, which will be built on an area of 150 thousand square meters.
It will be the largest factory in the world, and it is planned to start exporting its products in the first half of the year. Next.
He also said that it is also scheduled to provide about 10,000 job opportunities, stressing that during the year 2024 the factory will provide about 90% of its cable needs, for the manufacture of electrical braids.
Madbouly praised the success of this chain of factories for the company, and the forms and job opportunities it provided, stressing full support for such investments.
The Tour included the electrical braid production line, then inspected the device for testing and operating the produced electrical braids, as well as the new expansions area inside the factory.
The Prime Minister also inspected the training area, in which the factory director indicated that this area is dedicated to training and qualifying employees to serve the production process, so that they are trained on simple and complex production processes, and the basics of product management.
During the tour, Magdy indicated that the company owns five factories in Port Said, and two factories in the Sixth of October City. And another factory in the 10th of Ramadan City, where the company produces, manufactures and exports its various products to the United Kingdom, France, Turkey, Italy, Russia, the Czech Republic, and Slovakia, with exports exceeding 250 million euros annually.
At the same time, the official indicated that the company has, during the last period, started new expansions, by setting up a factory in Port Said Governorate, and another factory in Giza Governorate, at an investment cost estimated at 50 million euros.
SE Waring Systems Egypt is one of the projects established on the land of Egypt and operates under the system of private free zones, as the volume of its investments amounted to the equivalent of one billion euros annually, and provides more than 12,000 job opportunities within its various factories in Greater Cairo and Port Said.
Moreover, Sumitomo Egypt is the largest foreign company operating under the free zone system, exporting from Egypt for two years.
The company also won an award for the largest exporter of international brands for the year 2022.