CAIRO – 02 July 2024: Prime Minister, Mostafa Madbouly, examined four new projects proposed by the Signify Philips and Gila Electric alliance. These projects involve a total investment of $100 million, according to a statement released by the Cabinet.
The first project focuses on the establishment of Egypt’s inaugural lighting factory for the alliance. Its objective is to provide cutting-edge LED lighting solutions and proposals, with foreign investments totaling $50 million.
The factory aims to export its products to Europe, Africa, and the Middle East, accounting for up to 60% of its production.
The second project by Gila Company aims to expand its manufacturing and assembly operations for medium and low voltage panels. With investments amounting to $20 million, they plan to achieve this by constructing a new 80,000 square meter factory in the 10th of Ramadan City.
The third project involves the construction of a solar power station with a capacity of 40 MW. This project is expected to attract new investments worth $20 million.
Lastly, the fourth project focuses on the production of green hydrogen, with an anticipated investment of approximately $16 million.
During the meeting, officials from the companies expressed their gratitude for the Egyptian government’s endeavors in attracting both direct and indirect investments to the country.
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