Arab Finance: The General Authority for Investment and Free Zones' (GAFI) CEO Hossam Heiba, and Chairman of the Board of Haier Group Zhou Yunjie laid the foundation stone for the “Haier-Egypt” complex in the 10th of Ramadan City, which is the first environmentally friendly industrial complex in Egypt, GAFI stated on March 15th.

The eco friendly complex will span over an area of 200,000 square meter.

The first phase of the complex includes 3 factories at an investment cost of more than $100 million. It will provide 2,000 direct and indirect job opportunities.

The phase’s production is expected to start in the first quarter (Q1) of 2024, with an annual production capacity of one million devices, with a local component ranging between 60% and 70%.

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