The ceremony was attended by the minster of supply and internal trading, and the minster of trade and industry, as well as the German ambassador, high-level officials, heads of government agencies, members of parliament and representatives of business and industry. The Egyptian prime minister had met in advance with the BSH managing directors. He was delighted with the progress of the project and has pledged his support.
The German company will invest around 50 million euros in the stove factory, the first of its kind in Egypt and on the African continent. The production plant will be located in the 10th of Ramadan City on an area of approximately 160,000 square meters and will create more than 1,000 direct and indirect job opportunities for the manufacturing of Egyptian-made home cooking stoves using German technology. With a capacity of 350,000 units per year, the Group aims to export half of the factory’s output to various countries in Africa and the Middle East by the end of 2024.
• Europe’s leading home appliances manufacturer to invest around 50 million euros for a state-of-the-art factory in Cairo
• Factory to be designed according to the latest sustainability standards
• Company aims to create around 1,000 direct and indirect jobs in the region
Rudolf Klötscher, Chief Sales and Service Officer and Member of the BSH Board of Management, said: “Despite the challenging global economic conditions and developments around the world, BSH Group is proud to launch its first factory in Africa and further expand its business to African markets with their growth opportunities.” The factory complements BSH's global manufacturing network and will be the home appliance manufacturer's 41st production facility. Production is scheduled to start by the end of 2024.
Mr. Luis Alvarez, CEO of BSH Egypt, reaffirmed the company's commitment to Egypt and its excellent conditions for new investments: “BSH aims to contribute to the growth and development of the Egyptian economy by creating new job opportunities and utilizing local resources to provide the maximum value to Egyptian society. BSH offers ongoing and continuous expansion and progress, both now and in the future, for strong relationships and inspiring and constructive investments,” he said.
Alvarez underlined the Group's unwavering commitment and drive to attain sustainability in all facets of its new factory and products.