Arab Finance: Minister of Industry Khaled Hashem held a meeting with representatives of Gila Al-Tawakol Electric to review the company's ongoing projects in Egypt, according to a statement.

The meeting outlined the group’s future plans for localizing advanced lighting technologies and enhancing cooperation in new and renewable energy. It also addressed the implementation status of the first factory in Egypt for the manufacture of smart and high-efficiency lighting fixtures and systems.

The facility, a joint venture (JV) between Signify and Gila, represents an investment of $30 million over the next three years. It will initially rely on a 40% local content ratio, with plans to increase this to 80% over time, strengthening local value chains and reducing dependence on imported components.

Scheduled to open during the fourth quarter (Q4) of 2026, the project intends to export 60% of its production to African and European markets, while creating 1,000 direct and indirect job opportunities.

For his part, Hashem stressed the importance of raising the percentage of local content across the company's product portfolio, which will contribute to enhancing the competitiveness of the national industry. This also aligns with the state’s objectives to lower dependence on imports and strengthen local supply chains.

He noted that the ministry is currently implementing the Sun of Industry initiative, which aims in its first phase to install rooftop solar power systems with a combined capacity of 1,000 megawatts (MW) across 7,000 factories nationwide.