Tokyo-based Sumitomo Corporation to build world’s largest plant in Egypt

Sumitomo Corporation, a Japanese company among the largest manufacturers of electric car braids in the world, has obtained the golden license to build its largest factory worldwide for producing electric car braids on an area of 150,000 square meters free zone system, the Egyptian General Authority for Investment and Free Zones has announced.

The Japanese company will invest $100 million for the initiative. The investment is expected to create 10,000 new job opportunities.

The announcement came following a meeting between Hossam Heba, Executive Chairman of the General Authority for Investment and Free Zones and officials of the Japanese company.

About Khalid Al Mouahidi 4407 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network