China’s Haier plans to invest USD 500 mn expanding its complex in Tenth of Ramadan

Haier to invest USD 500 mn in expanding Tenth of Ramadan complex: Chinese appliance manufacturer Haier plans to inject USD 500 mn over the next five years to expand its industrial complex in Tenth of Ramadan to increase its production capacity 5x, Haier Egypt General Manager Ahmed El Gendi told Al Borsa. Haier will acquire additional land through the Industrial Development Authority and begin operating the second phase of the complex in 4Q 2026.

Remember: Haier laid the foundation stone for the USD 40 mn second phase of its eco-industrial complex in Tenth of Ramadan City last September.

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 at the time. The third phase will produce 22k air conditioning units a year with an investment of USD 60 mn, El Gendi added.

Between meeting local demand and exporting: The company plans to export 30% of its output with the remaining 70% allocated to meet domestic demand, El Gendi said, adding that the company has started exporting to a number of countries namely Tunisia and Kenya, with plans to soon tap the Algerian and Jordanian markets. He also mentioned plans to export to central African and European markets.