Prime Minister Mostafa Madbouly and Walid Gamal El-Din, chairman of the SCZone, attended the signing ceremony at the government headquarters in the New Administrative Capital (NAC).

VESRA MEA LLC-FZ, licensed by Honeywell for 18 countries in the MENA region, will produce Honeywell Lighting products, including commercial, residential, and industrial lighting for indoor and outdoor applications. These products will be manufactured within the Orascom Industrial Developer zone in the Sokhna Integrated Industrial Area, part of SCZone.

The contract will allow Honeywell Lighting products to be produced at the Siraj Lighting factory within the SCZone. The factory has a production capacity of two million lighting units and spans over a 3,700 m² space in the Sokhna Integrated Industrial Area.

The project’s first phase will focus on producing a variety of indoor and outdoor lighting units for residential, industrial, and commercial use. Plans include exporting 30 percent of the production to global markets, including North and East Africa and the Middle East, and allocating the remaining 70 percent to the local market to provide high-quality "Made in Egypt" products to Egyptian consumers.

Prime Minister Madbouly emphasized that this investment will significantly boost the local economy by creating new job opportunities for Egyptian youth and increasing the country's production capacity through local manufacturing.

In related news, IMF Managing Director Kristalina Georgieva stated that Egypt is creating more employment opportunities through the private sector, emphasizing that the IMF is focused on supporting the growth of this sector to generate sufficient jobs for the millions of young people who enter the labour market each year.

The SCZone chairman highlighted that the agreement aligns with the authority's commitment to supporting Egyptian exports by collaborating with major global brands seeking to expand in regional and international markets.

During the signing, Nabil Youssef, chairman of Seraj Lighting, emphasized that the company has completed the first two phases of its factory construction and will soon begin work on the third phase.

Siraj Lighting Company was established in 1998 to meet the high demands of local and international clients. Since then, it has become Egypt's leading representative of the world's top lighting brands.