Over USD 100 mn worth of projects around the corner: Dutch lighting manufacturer Signify — formerly known as Philips Lighting — and local electrical solutions manufacturer Gila Electric are in talks with the government to launch four projects worth a combined USD 106 mn, according to a cabinet statement. These include a joint venture for the manufacture of lighting products, a factory for electrical panels, a solar power plant, and a green hydrogen project. Here’s the breakdown:

#1- A USD 50 mn lighting production facility: The two companies plan to set up a JV — dubbed Signify Gila for Lighting Technology — to build a USD 50 mn factory that manufactures state-of-the-art LED lighting solutions. The factory, which is expected to come online in early 2025, aims to export 60% of its production to Europe, Africa, and the Middle East. The project will employ over 1k Egyptians.

#2- USD 20 mn electrical panels factory: Gila Electric plans to establish a c. USD 20 mn factory in Tenth of Ramadan City to expand its production and assembly of low- and medium-voltage electrical panels.

#3- A 40 MW solar power plant: Gila Electric wants to invest around USD 20 mn to ramp up the capacity of its 5 MW solar power plant to 40 MW and connect the facility to the national grid. The project file has been submitted to the Electricity Ministry.

#4- A USD 16 mn green hydrogen project: The fourth project involves the production of green hydrogen with an estimated cost of USD 16 mn.

Where do the projects stand? Representatives from Signify and Gila Electric met with government officials, including Prime Minister Moustafa Madbouly, yesterday to go over the proposed projects and discuss the steps needed for implementation. The relevant ministries are set to study the projects and follow up on their implementation.

More to come? The meeting also saw the government requesting Signify to help localize the medical device industry, with the company’s officials saying they would relay the request to their management.

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