Egyptian Prime Minister Mostafa Madbouly reviewed on Tuesday four new projects proposed by Signify Philips and Gila alliance with investments totaling $100 million, as part of efforts to attract more domestic and foreign investments to Egypt. Signify and Gila plan to execute the first project by establishing Egypt's first lighting factory, Signify Gila Lighting Technology, which will offer state-of-the-art LED lighting solutions with $50 million in foreign direct investment. The factory will manufacture products with Egyptian labour, exporting 60 per cent of the production to Europe, Africa, and the Middle East. Gila will expand its manufacturing and assembly of medium- and low-voltage panels with the second project by setting up a new factory in the 10th of Ramadan city to span 80,000 square metres with an estimated investment of $20 million. The third project will involve the completion of a 40 MW solar power station. The company has already finished the initial 5 MW phase and plans to invest about $20 million more to complete the remaining 35 MW. The fourth project focuses on green hydrogen production, with preliminary steps already taken and anticipated investments of approximately $16 million. Attribution: The Egyptian Cabinet.
