China’s Haier breaks ground on second phase of industrial complex

Chinese appliance manufacturer Haier laid the foundation stone for the USD 40 mn second phase of its eco-industrial park in Tenth of Ramadan City, at an event yesterday attended by EnterpriseAM. The second phase of the project is scheduled to go online and begin production in 4Q 2025, Haier Egypt General Manager Ahmed El Gendi told us.

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.

Big export plans: 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. The company aims to export 30% of its output by 2025, he added.

REMEMBER: Haier inaugurated the USD 130 mn eco-industrial park back in 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.

Preparations are underway for a third phase: 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.

Haier has been on Egypt’s list: Haier was one of the firms that received golden licenses to operate in Egypt back in 2022. It was also amongst three big international companies that the government wanted to attract, alongside Turkish home appliance manufacturer Beko and subsidiary of Germany’s Bosch, BSH Home Appliances.