Elsewedy Industrial Development (SD), a subsidiary of Egyptian Elsewedy Electric, has inked a deal with Japanese pump maker Torishima Service Solutions to create a $5 million water pump servicing center in the Suez Canal Economic Zone (SCZONE).
The 30,000-square-meter facility will be placed in the “Industria Sokhna” project. It will serve as a place to construct, produce, supply, and service massive water pumps for industrial and civic applications, such as sewage treatment and desalination facilities.
Torishima will invest up to $5 million in the facility, producing over 100 employees. To serve the Egyptian market, the business also intends to build a local spare parts industry.
“We are honored 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.”
Walid Gamal El-Din, Chairperson of the General Authority for the Suez Canal Economic Zone, witnessed the signing ceremony agreement.
“Capitalizing 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 meters,” 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.
