Cairo - Mubasher: Japan's Sumitomo has signed an agreement with the General Authority for Investment and Free Zones (GAFI) to establish its largest factory to manufacture electrical braids for cars and vehicles in the world.

Spanning over 150,000 square metres in the Tenth Ramadan City, the factory is expected to start its operations by the end of 2023, the Managing Director of Sumitomo Egypt, Ahmed Magdy, announced.

The factory's entire production will be exported abroad, contributing to raising Egyptian exports.

It is noteworthy to mention that Sumitomo has achieved exports of around EGP 10 billion in the past few years, in addition to developing technical education in the country.