EGYPT – Haier Smart Home, a Chinese consumer goods giant Haier Group subsidiary, has inaugurated its first industrial park in Egypt, Ecological Park, and its first production plant in the Arab country.
Haier Smart Home invested US$135 million in building the Haier Egypt Ecological Park.
Once fully built, it will cover an area of 200,000 square meters with an annual planned production capacity of more than 1.5 million units of home appliances.
The Egypt Eco-Park will support the local economy by creating over 2,000 jobs, representing a significant step for Haier Smart Home in expanding its presence in the Middle East and Africa.
Song Yujun, a vice president at Haier Smart Home who oversees its ecosystem platform, said at the opening ceremony that the park, at its planned capacity, will not only meet Egypt’s market demands but can also be export-ready to neighboring markets.
Haier Egypt General Manager Ahmed Mossad El Gendi told Xinhua during a media tour of the plant that trial production is in the swing in the first phase of the industrial park, with air conditioners, televisions, and washing machines rolling off the line.
Gendi noted the park will create 3,000 local jobs and have 40-65 percent of its spare parts localized once the project’s second phase is completed.
Washing machine production will begin in May, bringing the plant’s annual capacity to over 900,000 units in the first phase, focusing mainly on the Egyptian market.
The second phase will see the addition of refrigerators, freezers, and other appliances, the statement said.
In March 2023, state news agency Xinhua reported that the Eco-Park, located on the 10th of Ramadan City in northeastern Sharqia Province, is being built at a total cost of US$160 million.
In its first phase, the Egypt Eco-Park will primarily supply the Egyptian market. Haier Smart Home has defined Egypt as one of its key strategic growth markets. It will continue investing in introducing new products to meet the local demand for high-quality products.
The unique lifestyle habits and appliance needs of consumers across Middle Eastern and Africa regions have fueled demand for differentiated products – driving consumer preference for Haier Smart Home products, who offers washing machines specifically designed for the region or air conditioners that can run with power generators. As a result, the company has grown three times faster than the rest of the industry.
The Egypt Eco-Park is expected to accelerate Haier Smart Home’s presence and growth in the Middle East and Africa by leveraging its world-class global supply chain to expedite market response and serve more customers and consumers in more parts of the region.
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals and insights from Africa’s business, economy, and more. SUBSCRIBE HERE
