Cairo – Mubasher: Sumitomo Electrical Wiring Systems Egypt is planning to inject EGP 1 billion worth of investments through establishing a new factory for automotive pigtails which will be exported to European countries.
The Executive Director of the Egyptian General Authority for Investment and Free Zones (GAFI), Mohamed Abdel Wahab, explored the investment plans of the company with the Managing Director of Sumitomo Egypt, Ahmed Magdy, according to a statement on Monday.
The factory, scheduled to be opened in December, is expected to create 1,000 new jobs, according to a statement on Monday.
Sumitomo Electrical Wiring Systems Egypt has invested a total of EGP 8 billion in its production sites in Port Said and 10th of Ramadan City.
