During his meeting with Bosch Egypt officials, PM follows up on the progress of Bosch Home Appliances Factory in 10th of Ramadan City
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Madbouly: We are keen to follow up on the company’s activities in Egypt...and we are ready to overcome any obstacles. Bosch Egypt CEO: The factory will be the largest of its kind in Africa, and the company intends to make Egypt a hub for penetrating and supplying other markets with Bosch products. Prime Minister (PM), Dr. Mostafa Madbouly, held a meeting this evening with officials of Bosch Egypt, a subsidiary of the German company Bosch to review the Egyptian company’s business progress. The Chief Executive Officer of the General Authority for Investment and Free Zones (GAFI CEO), Mr. Hossam Heiba; CEO of Bosch Egypt, Mr. Luis Alvarez; and Managing Director of Bosch Egypt, Mr. Ahmed Riad attended the meeting. At the beginning of the meeting, PM welcomed Bosch Egypt officials, saying that he is keen to invite them to follow up on the company's activities in Egypt, and to review Bosch Egypt’s performance in establishing its home appliances factory in the 10th of Ramadan Industrial City. He added that the Government of Egypt is ready to overcome any obstacles or challenges until the project is complete and operational. Moreover, Dr. Madbouly elaborated that he is keen to follow up on how each phase of this project is being completed starting with allocating the necessary land for the company and ending with granting the company the Golden License (an all-inclusive approval). This is because the project is highly important and needed step in course of developing the home appliances sector in Egypt, PM added. Furthermore, PM praised the German company "Bosch", which has a good reputation as a leading company that owns factories all over the world in Europe, the United States of America, Latin America and Asia, expressing his appreciation of the company's decision to expand in Egypt. In addition, PM asked Bosch Egypt officials to present their progress in setting up the home appliances factory in the 10th of Ramadan City stressing that he is ready to give immediate guidance to resolve any obstacles that the project may face and also stressing that he attaches special importance to this factory. On his part, Bosch Egypt CEO stated that the company has already begun the factory construction works demonstrating the construction progress achieved in each of the factory’s sections including the production halls, warehouses, fences, metal structures, and other sections. He also stressed that the factory construction work is in full swing. Bosch Egypt CEO also said that the factory will be the largest of its kind in Africa, and the company intends to make Egypt a hub for penetrating and supplying other markets with the company’s products. It should be noted that the first phase of the home appliances factory will be devoted to the production of stoves, with investments estimated at 80 million euros and a production capacity of 400,000 units per annum.
