Chairman of SCZONE Witnesses Allocation Contract Between Elsewedy Industrial Development and Mienta the French Brand

Mr. Waleid Gamal El-Dien, the Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), has witnessed the signing ceremony for an allocation contract between Elsewedy Industrial Development (SD), a subsidiary of ELSEWEDY ELECTRIC (EE), and Mienta the French brand. The contract pertains to the establishment of Mienta’s third factory and warehouse, which will cover a total area of 20,000 square meters in the “Industria Sokhna” project.

Eng. Mohamed AlKammah, CEO, Elsewedy Industrial Development (SD), together with, Nicolas Bouris, Managing Director, Mienta, have signed the agreement, in the presence of Mr. Mohamed Hussein, General Manager, Mienta. Endeavoring to become an export hub in the MENA region, Mienta will invest up to USD 5 million to establish its third factory for small electric home appliances and a warehouse in 2024.

Waleid Gamal El-Dien, Chairman of the General Authority for the Suez Canal Economic Zone, expressed his delight with the unceasing efforts of Elsewedy Industrial Development (SD) to attract foreign investments within SCZONE. This highlights the trust that foreign investors have in Egypt’s favorable investment environment.

Eng. Mohamed AlKammah – CEO, Elsewedy Industrial Development (SD), stated: “It’s our pleasure to form a partnership with one of the leading companies that has consistently shown success in the Egyptian market. As part of our ongoing dedication to supporting manufacturers, we have been working diligently to to develop and operate sustainable and integrated industrial cities across a total of nine industrial cities in Egypt and Africa.”

Underscoring SD’s commitment to supporting the state’s plan to develop and promote SCOZNE, AlKammah elaborated: “Elsewedy Industrial Development is developing its mega project in the region, known as ‘SOKHNA360’. This expansive integrated industrial city covers a notable area of 10 million square meters and provides a comprehensive range of smart services and essential facilities. The project is strategically divided into industrial zone, a logistics zone, a residential zone, social activities, a university, and a technical academy. This remarkable project offers investors the opportunity to capitalize on the commercial advantages of its prime location, which serves as a major gateway for global trade. As a result, it attracts both local and foreign investments, bolstered by the various investment incentives provided by the area.”

Nicolas Bouris, Managing Director of Mienta, commented: “We are thrilled to announce our latest venture in the ‘Industria Sokhna’ in SCZONE, as we embark on the establishment of our third factory in Egypt, building upon the achievements of our previous successful projects. This initiative aligns perfectly with our objective to position ourselves as a key player in the thriving maritime center of the entire region. Coinciding with the French brand’s tenth anniversary celebration in Egypt this year, this project marks a significant milestone in our journey towards further growth and expansion.”

He added: “The factory is projected to achieve its maximum capacity of 650,000 appliances by 2025. Additionally, the site encompasses a warehouse equipped with storage capabilities for more than 200 containers. The presence of ‘Industria Sokhna’ serves as a remarkable opportunity for foreign investors, such as Mienta, as it provides us with a distinct advantage in terms of expedited delivery dates for our neighboring markets.”

It is worth mentioning that the establishment of Mienta’s new factory will significantly expand their product range to include 60 diverse items, encompassing kitchen and cooking utensils, as well as household appliances. Previously, local production was limited to only 35 products, while the rest had to be imported. Moreover, the inauguration of the new factory will create 250 employment opportunities for Egyptian youth.