European companies are getting ready to set up industrial complexes and factories in Egypt, with Poland’s Padma Art and the Egyptian arm of Germany’s Leoni both preparing multi EUR mn projects.

POLAND’S PADMA ART TO BUILD EUR 70 MN FURNITURE COMPLEX-

New Polish furniture industrial complex in the works: Polish furniture manufacturer Padma Art plans to build an EUR 70 mn industrial complex to locally produce furniture, according to a statement.

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What we know about the project: Set to span 400k sqm in New Alamein, the complex is expected to be a major manufacturing venture that will earmark most of its output to Arab, US, and European markets. A portion of the production will go to cover New Alamein and surrounding coastal cities and resorts. The company has set its sights on an annual export target of EUR 200 mn.

LEONI EGYPT TO ESTABLISH EUR 40 MN FACTORY-

There’s a new factory in the works in the Robbiki Leather City: Cable and harnessing manufacturing firm Leoni Egypt will set up an EUR 40 mn, 13k sqm factory for cable harness production in Robbiki Leather City, under an agreement inked with manager of the leather-specialized industrial complex Cairo for Investment and Development, according to a statement.

The details: The project is expected to boost Leoni’s exports from Egypt by 50% to generate around EUR 240 mn annually. It is also expected to create around 3k direct and indirect jobs. The factory is expected to kick off operations within a year.

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