The subsidiary of the Egyptian Elsewedy Electric, Elsewedy Industrial Development (SD), has signed a contract with Japanese pump manufacturer Torishima Service Solutions to establish a $5m water pump maintenance centre in the Suez Canal Economic Zone (SCZONE).
The centre, which will be located in the “Industria Sokhna” project, will span an area of 30,000 square metres and will be used to assemble, manufacture, supply, and maintain large water pumps used for industrial and civil purposes, including sewage treatment and desalination plants.
Torishima will invest up to $5m in the centre, which is expected to create over 100 jobs. The company also plans to establish a local spare parts industry to cater to the Egyptian market.
“We are honoured to have the opportunity to establish a local service and manufacturing presence in Egypt,” said Alister Flett, Managing Director of Torishima Service Solutions. “We look forward to partnering with key end users in the fields of water, wastewater, irrigation, and power to improve the reliability of the large pumps installed and ensure that Egypt has the most efficient pumps in the region.”
The agreement was witnessed by Walid Gamal El-Din, Chairperson of the General Authority for the Suez Canal Economic Zone.
“Capitalising on this cooperation with the Japanese company, we strengthen relations between the two sides and attract diverse foreign investments within SCZONE,” said El-Din. “We aim to bolster Japanese investments, which can benefit from our prime geographical location, facilitating access of Japanese products to the African and European markets.”
Mohamed AlKammah, CEO of Elsewedy Industrial Development, said that the project confirms Egypt’s promising investment opportunities in the industrial sector, particularly in the manufacturing of pumps and their accessories.
“With an unceasing dedication to attracting investments, Elsewedy Industrial Development currently owns a diversified portfolio of land amounting to approximately 27 million square metres,” said AlKammah. “These lands are distributed across several zones and projects, including the Tenth of Ramadan city, 6th of October City, Sadat city, and extending to African countries.”
The agreement is a sign of the growing cooperation between Egypt and Japan in the industrial sector.
In recent years, Japan has become a major investor in Egypt, with Japanese companies investing in a wide range of sectors, including infrastructure, manufacturing, and energy.
