Japan-based Sharp, Elaraby Group ink $50mln deal

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Cairo – Japanese Company Sharp and Elaraby Group signed a partnership agreement to manufacture refrigerators and deep freezers with investments of $50 million, according to an official statement.

Construction of the factory and installation of production lines will begin in the first quarter (Q1) of 2025, while the manufacturing process will commence in Q1-26.

Mostafa Madbouly, Egypt’s Prime Minister, witnessed the signing between Ibrahim El-Arabi, Chairman of Elarabi Group, and Masahiro Ukitsu, Chairman of Sharp.

The factory's production capacity in the first year is expected to reach 400,000 units annually, providing nearly 1,500 job opportunities for engineers, technicians, and administrators.

It is worth highlighting that Sharp was founded in 1912 and entered the home appliance market in 1925. The Japanese company secured its first collaboration with the Elarabi Group in the field of air conditioning manufacturing in 2002.