Japan’s Yazaki to Build USD 32.5 Million Auto Parts Factory in Egypt
The new facility is expected to create over 3,000 job opportunities in the Fayoum governorate.
Japanese car parts supplier Yazaki has announced that construction has begun on a new USD 32.5 million auto parts factory in the governorate of Fayoum. When completed, the factory will occupy an area of around 70,000 square metres, and is expected to create over 3,000 job opportunities, generating an estimated export value of up to EUR 100 million annually.
Yazaki is an international company headquartered in Japan, known for manufacturing electric wire harnesses, car components and electric systems. Operating in 45 countries across 140 units, recent data released from the company showed that 90% of their workforce operates outside Japan itself. With its global presence in manufacturing, the company achieves an annual sales figure of EUR 12.5 billion.
Due to be fully constructed by the end of 2024, the facility is indicative of the Egyptian government’s strategy to attract the automotive industry to the country, establishing it as a major hub for emerging vehicle markets across Africa. Production from the initial phase of the factory, and export of those parts, is likely to begin within the next several months.
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Nov 04,2024
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