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Haier lays foundation stone for second phase of industrial park: Chinese appliance manufacturer Haier laid the foundation stone for the USD 40 mn second phase of its eco-industrial complex in Tenth of Ramadan City in an event yesterday attended by Enterprise.
The details: This second phase of the project will have a production capacity of 300k refrigerators and deep freezers and offer around 1k jobs, according to an Investment Ministry statement.
The timeline: The second phase of the project is scheduled to go online and begin production in the last quarter of 2025, Haier Egypt General Manager Ahmed El Gendi told Enterprise on the sidelines of the event.
The second phase comes hot on heels of the complex opening its doors for the first time: Haier inaugurated the USD 130 mn eco-industrial complex back in only May. The first phase of production at the park — which primarily targets the local market — kicked off in March, rolling out ACs and TV sets. Al Gendi described the project as Haier’s fastest to be completed outside of China.
And the preparations for launching the third phase are already underway: The Industrial Development Authority has already allocated 45k sqm for the third phase of the complex, El Gendi said on the sidelines of the conference. The third phase will produce 22k air conditioning units a year with an investment of USD 50 mn, El Gendi added.
Brining Haier over to Egypt — in no small due to golden licenses — was a big W for the Madbouly government: Haier is one of three big international companies that government wanted to attract, with the other two being Turkey’s Beko, which recently opened its first Egyptian home appliance factory in Tenth of Ramadan City at a cost of USD 100 mn and subsidiary of Germany’s Bosch, BSH Home Appliances, which will soon open its EUR 30 mn oven factory in Tenth of Ramadan City soon.
Stepping into new export markets is also part of the plan: Haier started exporting its Egypt-made products to Kenya and Seychelles and has plans to start exporting to Spain, Jordan, and Algeria before the end of the year, El Gendi told us. El Gendi added that the company aims to export 30% of its output by 2025.
