Sumitomo Wiring Systems, a division of the Japanese Sumitomo Group, will launch in December a new factory to produce pigtail cables for used in cars to supply the Egyptian local market and to export to Europe, Arab Finance reports.
The factory, the third by the Japanese company, will require around $63 million and will generate 1,000 job opportunities, Arab Finance notes citing the statement by General Authority for Investment and Free Zones.
The future factory will be located 10th of Ramadan is a city located in the Sharqia Governorate, a first-generation new urban community, and one of the most industrialized.
It will be the third factory by the Japanese group, after two inaugurated last year in Port Said for about $200 million. Sumitomo, founded 400 years ago, has invested more $500 million in Egypt. It also operates 234 companies around the world.
Japanese Sumitomo to open pigtail cables production factory in Egypt
