CAIRO-- The Egyptian Ministry of Industry, through the Industrial Modernization Center, signed a memorandum of understanding (MoU) with UAE's Global South Utilities and China's Weiheng to establish a USD 12 million energy storage battery factory. Signed in the presence of Egyptian Prime Minister Mostafa Madbouly, the MoU aims to support Egypt's Sustainable Energy Strategy 2035 by improving energy efficiency, promoting renewable energy, and enhancing clean energy infrastructure. It also seeks to provide energy storage solutions for local and regional markets.

Lieutenant General Kamel Al-Wazir, Minister of Industry and Transport, stated the Industrial Modernization Center will facilitate the project by providing relevant data, investment incentives, and support for local supply chains.
The MoU outlines Emirati Global South Utilities' commitment to assist Weiheng in conducting a feasibility study for the factory, which will have a production capacity of 1 gigawatt.

UAE Minister Sultan Al Jaber highlighted that this initiative aligns with UAE leadership's directives to explore cooperation in advanced industries and renewable energy, fostering growth and self-sufficiency for both countries. 

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