Arab FinanceSumitomo Electric Company, a subsidiary of the Japanese Sumitomo Group, is putting the finishing touches on its electrical braid factory in 10th of Ramadan City, in preparation for the start of production next month before the official opening in the first quarter of 2025, according to statement Issued by the Ministry of Investment.
The investment cost of the new factory is about 22 million euros, which was initially scheduled to be YThe plant — which will produce electrical braids and wires for cars and vehicles — will begin production by the end of 2023.
The 150,000 square meter factory will provide about 3,000 direct job opportunities. It is expected to produce electric braids for about one million cars annually, making it one of the largest factories of its kind in the world The company plans to invest more than €8 million in the local market over the next 12 months.
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