CAIRO – 1 December 2024: The General Authority for Investment and Free Zones (GAFI) won the "Contribution to Sustainability & Local Linkages" award at the 28th edition of the World Investment Conference (WIC) held in Riyadh last week.
GAFI garnered the award – dedicated to projects that advance sustainability while creating strong local linkages and fostering community development – for the establishment of Haier factory for home appliance.
The project, which competed with 84 others from 40 countries, stretches on 200,000 square kilometers with an initial investment worth $135 million. The factory, that obtained the golden license, produces air conditioners, washing machines and TVs.
The plant began production in 2024, where $40 million were injected to establish the second phase that will span over 50,000 square meters and produce fridges and freezers.
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