The subsidiary of the Egyptian Elsewedy Electric, Elsewedy Industrial Development (SD), has signed a contract with Japanese pump manufacturer Torishima Service Solutions to establish a $5m water pump maintenance centre in the Suez Canal Economic Zone (SCZONE). Torishima will invest up to $5m in the centre, which is expected to create over 100 jobs. “We are honoured to have the opportunity to establish a local service and manufacturing presence in Egypt,” said Alister Flett, Managing Director of Torishima Service Solutions. “With an unceasing dedication to attracting investments, Elsewedy Industrial Development currently owns a diversified portfolio of land amounting to approximately 27 million square metres,” said AlKammah. In recent years, Japan has become a major investor in Egypt, with Japanese companies investing in a wide range of sectors, including infrastructure, manufacturing, and energy.

Source: The North Africa Journal July 25, 2023 06:56 UTC