The Suez Canal Economic Zone held a groundbreaking ceremony for the second phase of the Fanward Home Appliances factory in the Suez industrial area. The event was attended by Raban Ahmed Jamal, Deputy Head of the Suez Canal Economic Zone for the Southern Region, Li Dai Xin, Chairman of Teda-M Egypt, Lucy, Chairperson of Fanward Home Appliances, and several other high-ranking officials.
The second phase of the project is expected to cost $12 million and will be built on an area of 13.3 thousand square meters. The project aims to expand the production and assembly of home appliances, particularly gas water heaters and their basic components. This expansion is expected to increase the production capacity of the project and enhance its manufacturing and export capabilities, while creating over 300 new job opportunities.
Raban Ahmed Jamal emphasized that the groundbreaking ceremony marks a new milestone in Egypt-China economic and industrial cooperation. He highlighted the project's success in transitioning from the establishment phase to operation and expansion, demonstrating the attractiveness of the Suez industrial area to diverse Chinese investments.
The project is considered a model for industrial investments that aim to deepen local manufacturing, localize technology, and increase added value. It also aims to provide job opportunities and develop the skills of Egyptian technical cadres. The Suez Canal Economic Zone is committed to providing a comprehensive business environment that adheres to Egyptian standards and regulations.
Lucy, Chairperson of Fanward Home Appliances, expressed her confidence in continuing and expanding investments in Egypt due to its strategic location, industrial capabilities, and government support. The second phase of the project targets the expansion of smart manufacturing of gas water heaters and their components.
The production capacity of the project is expected to reach 2 million units of water heater components and 500,000 complete heaters annually. This supports the company's goal of making the factory a major center for gas heater manufacturing in the Middle East and North Africa.
The first phase of the Fanward Home Appliances project was opened in January 2026, and the company began local production of water heater components. The second phase aims to expand the manufacturing of components and assembly of complete heaters, with some production directed to the Egyptian market and exports to the Middle East, North Africa, and Europe.
Key points
- The project is expected to create over 300 new job opportunities and increase Egypt's industrial production capacity.
- The second phase of the project will be built on an area of 13.3 thousand square meters at a cost of $12 million.
- The factory aims to produce 2 million units of water heater components and 500,000 complete heaters annually.
