Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), witnessed Tuesday the signing of a land allocation contract between the French home appliances manufacturer Mienta and Elsewedy Industrial Development, a subsidiary of Elsewedy Electric. Mienta will establish its third factory and warehouse on an area of 20,000 square metres in Elsewedy’s Industria Sokhna economic zone, with $5m investments.
The contract was signed by Mohamed AlKammah, CEO of Elsewedy Industrial Development, and Mienta’s Managing Director Nicolas Bouris.
The cooperation between the two parties comes within the company’s plan to become an exporting hub to the MENA region.
Gamal El-Din expressed his happiness with this move made by Elsewedy to attract various foreign investments to the company’s zone in Sokhna.
“We are pleased with the joint cooperation with one of the leading companies that have proven to be successful in the Egyptian market,” said AlKammah.
He added: “This cooperation comes within the framework of our role over the past years to support manufacturers by developing and operating sustainable and integrated industrial zones, with a total of nine industrial cities in Egypt and Africa.”
“Choosing Sokhna as a destination for our projects aims to support the state’s plan to develop the economic zone of the Suez Canal,” AlKammah continued.
“In addition to that, the company is developing its largest project in the region, which is “Sokhna 360”. It is an integrated industrial city on an area of 10 million sqm, and includes all kinds of smart services and facilities. It is divided into an industrial area, a logistical area, a residential area, social activities, a university and a technical academy. The project allows investors to benefit from the commercial advantages of that unique location, thus attracting more local and foreign investments,” he noted.
For his part, Bouris expressed his excitement about the new project in Industria Sokhna.
“This is our third factory in Egypt. This project comes in accordance with our plans to be in the maritime center of the region, which coincides with the French brand’s celebration this year of its 10th anniversary in Egypt and its plans to achieve further growth,” Bouris said.
He went on to explain that the new factory’s production capacity is expected to reach 650,000 devices by 2025. The project comprises a plot of land that is allocated for the company’s warehouse. It has a capacity of more than 200 containers.
It’s worth mentioning that after the newest factory of Mienta is established, the number of the company’s locally manufactured products will reach 60, creating a wide variety of food preparation, cooking and household appliances. Formerly, the company offered only local 35 products – and the rest of its products were imported. Moreover, the new factory will generate 250 jobs for Egyptian young people.