Arab Finance: Elsewedy Industrial Development, a subsidiary of Elsewedy Electric, has signed a land allocation contract with Japan’s Torishima Service Solutions for the establishment of a water pumps maintenance center with $5 million in investments, as per an emailed press release on July 24th.

Located in Elsewedy Industrial Development’s Industria Sokhna project in Ain Sokhna, the 30,000-square-meter center will be used for assembling, manufacturing, supplying, and maintaining large water pumps used for industrial and civil purposes, include sewage treatment and desalination plants.

The Japanese company’s investments in the project are expected to increase within the coming five years.

“As a Japanese company, Torishima is confident that we can bring our technology, quality, and productivity to our new service center by training our Egyptian team on company values and traditions,” Torishima’s Managing Director Alister Flett commented.

“We aim to bolster Japanese investments, which can benefit from our prime geographical location, facilitating access of Japanese products to the African and European markets,” Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE) Walid Gamal El-Din said.

 

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