Friday 22 Nov
Prime Minister Dr. Moustafa Madbouly witnessed the signing of an agreement between Siraj Industrial Company and VESRA MEA LLC-FZ, a Honeywell licensee. This partnership will establish a manufacturing facility for Honeywell lighting products in Egypt's Suez Canal Economic Zone.
The new facility, located within the industrial developer in Sokhna, will produce a range of indoor and outdoor lighting solutions for residential, commercial, and industrial applications. With a total investment of $15 million, the plant is expected to have an annual production capacity of 2 million units.
The agreement aims to reduce
Egypt's reliance on imported lighting products and create new export
opportunities. Thirty percent of the production is slated for export to markets
in North and East Africa, the Middle East, and beyond. The remaining 70% will
be supplied to the domestic market.
Madbouly emphasized the potential of this partnership to strengthen Egypt's position as a regional manufacturing hub and contribute to economic growth. He highlighted the project's positive impact on job opportunities, increased production capacity, and support for national initiatives focused on energy conservation.
