Arab Finance: Siraj Lighting has signed a contract with VESRA MEA, authorized by Honeywell Lighting, to manufacture Honeywell lighting products in the Sokhna Industrial Zone’s Orascom Industrial Parks, with investments of $15 million, according to a statement.
The deal covers the production of Honeywell lighting’s commercial, residential, and industrial outdoor and indoor lighting products at Siraj Industries factory.
The project aims to produce 2 million lighting units, with plans to export 30% of their production abroad and supply 70% for the local market.
It also contributes to boosting the state’s economy, creating job opportunities for the youth, and scaling up the country’s production capacity, Prime Minister Mostafa Madbouly said.
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