Egypt: PM Witnesses Inking of Contract to Establish Factory in 10th of Ramadan

Prime Minister Moustafa Madbouli witnessed on Wednesday the inking ceremony of an initial sale contract between the New Urban Communities Authority and BSH Home Appliances Group, a Bosch company, for two pieces of land to establish an industrial complex for manufacturing home appliances in the 10th of Ramadan City.
The inking ceremony was attended by Housing Minister Assem el Gazzar, Trade Minister Niven Gamea, Chief Executive Officer of the General Authority for Investment and Free Zones (GAFI) Mohamed Abdel Wahab and BSH’s CEO & Chairman of the Board Rudolf Klötscher.
According to the contract, the authority allocated to the German company two pieces of land in the industrial area in 10th of Ramadan City with an area of 160,000 square meters to establish an industrial complex to manufacture home appliances.
The inking of this contract comes to implement a memorandum of understanding with the German company since June 2019 to establish an industrial complex in Egypt to manufacture home appliances, Spokesman for the Cabinet Nader Saad said, adding that the company has no factories in Africa or the Middle East.
Read the original article on Egypt Online.
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