Kamel Al-Wazir, Egypt’s Minister of Industry and Transport, has overseen the signing of a contract between Cairo for Investment and Development (CID) and Leoni Egypt for the establishment of a new factory dedicated to manufacturing automotive electrical harnesses.
The plant will be located on a 13,000-square-meter site in Al-Robeky City, backed by an investment of €40 million. It is projected to generate around 3,000 direct and indirect job opportunities, according to a recent statement from the ministry.
This new facility is expected to significantly enhance Leoni Egypt’s export capacity. The company aims to boost its exports by 50%, targeting €240 million annually by the year 2026.
Leoni Egypt intends to finalize construction and commence production within a year. The Ministry of Industry and Transport views this project as a promising beginning for future endeavors that will benefit both the Egyptian economy and the company.
Minister Al-Wazir emphasized the ministry’s commitment to supporting international enterprises, particularly German firms, by addressing potential challenges and facilitating the acquisition of industrial licenses.