BSH Home Appliances Group, a subsidiary of Germany’s\u00a0Bosch, has inked a preliminary contract with\u00a0Egypt’s New Urban Communities Authority to purchase two plots of land\u00a0to establish an industrial complex for home appliances in\u00a0the\u00a010th of Ramadan City.<\/p>\n
<\/div>\n
The signing ceremony was attended by Egyptian\u00a0Prime Minister,\u00a0Mostafa Madbouly, the\u00a0Minister\u00a0of\u00a0Housing,\u00a0Utilities,\u00a0and\u00a0Urban Communities,\u00a0Assem El-Gazzar, and the\u00a0Minister of Trade and Industry,\u00a0Nevin Jameh, according to the Egyptian Cabinet’s statement.<\/p>\n
BSH Home Appliances will construct the industrial complex over around 160,000 square metres to manufacture home appliances.<\/p>\n
The\u00a0Egyptian\u00a0Cabinet spokesman, Nader Saad,<\/strong>\u00a0said that the contract is in line with the Memorandum of Understanding (MoU)\u00a0signed\u00a0with Egypt\u00a0in June 2019\u00a0for\u00a0Bosch\u00a0to construct its\u00a0first industrial complex in MENA.<\/p>\nIn a separate statement, BSH announced that the company will invest over EGP 550 million (EUR 30 million) in building its first cooking factory in Africa and the 13th in the world.<\/p>\n
With a production capacity of\u00a0over 350,000 appliances per year, the 30,000 square meter facility will be located on the 10th of Ramadan City close to\u00a0Cairo.<\/p>\n
The factory’s construction is set to start in 2022,\u00a0and the production is scheduled to begin\u00a0in 2024.<\/p>\n
In 2020, BSH\u00a0recorded\u00a0sales of EUR 13.9 billion\u00a0by\u00a0meeting consumer needs in 125 markets.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u00a0BSH Home Appliances Group, a subsidiary of Germany’s\u00a0Bosch, has inked a preliminary contract with\u00a0Egypt’s New Urban Communities Authority to purchase two plots of land\u00a0to establish an industrial complex for home appliances in\u00a0the\u00a010th of Ramadan City.<\/p>\n","protected":false},"author":4,"featured_media":319935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-324025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n
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