In a meeting with representatives from Signify Philips and Gila companies, Egyptian Prime Minister Dr. Mostafa Madbouly discussed plans to establish four new projects with investments totaling $100 million. These projects aim to create job opportunities for over 1000 engineers, workers, and technicians through the production of state-of-the-art LED lighting solutions and proposals.
During the meeting, Jila, Signify Philips, and their partners expressed their appreciation for the Egyptian government’s efforts to attract investments. Mohamed Saad, General Manager of Signify Philips Lighting Egypt and North Africa, highlighted the company’s decision to establish a global manufacturing complex in Egypt to transfer modern technology in the field of lighting and export to various regions.
The first project involves the establishment of the first lighting factory in Egypt by the alliance, with direct foreign investments of $50 million. Additionally, the alliance plans to expand manufacturing and assembling activities for medium and low voltage panels by constructing a new factory in Tenth of Ramadan with $20 million in investments. Another project focuses on establishing a 40-megawatt solar power station with expected investments of around $20 million to connect it to the medium voltage network. The fourth project aims to produce green hydrogen with expected investments of about $16 million.
Engineer Ahmed Samir, Minister of Trade and Industry, encouraged Philips officials to work on localizing the medical devices industry in Egypt. Dr. Mostafa Madbouly welcomed these proposed projects and assured that necessary support would be provided by the government. The ministries and relevant authorities will study these projects carefully before overseeing their implementation to ensure their success.
Overall, this meeting represents an important step forward in promoting investment in Egypt’s energy sector while also creating job opportunities for local engineers, workers, and technicians.
