In a recent meeting with representatives from Signify Philips and Gila companies, Egyptian Prime Minister Dr. Mostafa Madbouly discussed a proposal to establish four new projects with total investments of $100 million. These projects aim to create job opportunities for over 1000 engineers, workers, and technicians through the production of state-of-the-art LED lighting solutions and proposals.
The first project involves the establishment of the first lighting factory in Egypt by the alliance, with direct foreign investments of $50 million. Another project plans to expand manufacturing and assembling activities for medium and low voltage panels by constructing a new factory in Tenth of Ramadan with $20 million in investments. The third project focuses on establishing a 40-megawatt solar power station, aiming to complete the project with investments of around $20 million to connect it to the medium voltage network. The fourth project involves producing green hydrogen, with expected investments of about $16 million.
During the meeting, Jila, Signify Philips, and their partners expressed their appreciation for the Egyptian government’s efforts to attract investments. Mohamed Saad, General Manager of Signify Philips Lighting Egypt and North Africa, highlighted the company’s decision to establish a global manufacturing complex in Egypt to transfer modern technology in the field of lighting and export it to various regions.
Engineer Ahmed Samir, Minister of Trade and Industry, encouraged Philips officials to work on localizing the medical devices industry in Egypt. Dr. Mostafa Madbouly welcomed these proposed projects and assured that the government would provide necessary support for their implementation. The ministries and relevant authorities will study these projects before overseeing their implementation to ensure their success.
Signify Philips has been operating in Egypt since 1938 and has established itself as one of Egypt’s leading lighting manufacturers. With its new global manufacturing complex in Egypt, Signify Philips aims to transfer modern technology in lighting while expanding its exports beyond Africa.
In conclusion, these four proposed projects have great potential for growth and job creation in Egypt’s engineering sector while contributing significantly towards sustainable energy solutions like green hydrogen production and renewable energy sources like solar power stations.
The Egyptian government continues its efforts towards attracting foreign investment by providing incentives such as tax breaks for companies that invest heavily in infrastructure development or employ large numbers of workers locally.
As these companies continue working together towards achieving common goals like job creation and sustainable development initiatives, they are expected to contribute significantly towards building a better future for all citizens across Egypt’s diverse communities.
