Construction Frontline
Wanhe Electric Egypt Base lays a grand foundation
Seetao 2024-01-22 15:51
  • This project is of great significance for Wanhe Electric's international development strategy
  • This project provides a favorable investment environment and policy support for overseas investors
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On January 18, 2024, Wanhe Electric held a groundbreaking ceremony in the Atacain Suhanatada Special Economic Zone in Suez Province, Egypt, marking the official start of construction for its Egyptian base. This is another overseas manufacturing base that has started construction since the groundbreaking of Wanhe Electric's Thailand base on April 24, 2023. This measure further confirms that Wanhe Electric is continuously promoting its internationalization process and achieving greater development in overseas markets.

At the groundbreaking ceremony, Yang Songwen, Vice President of Guangdong Wanhe New Electric Co., Ltd., and Lu Siyi, Assistant to the President, attended together. They are working with Mr., the Chairman of SCzone Guests such as Waleid Gamal Eldien, Li Daixin, General Manager of Zhong'e Teda Development Company, Luo Songlei, General Manager of Zhenxin Industrial Co., Ltd., and Dr. Alaa El Sayed, the supervising unit of BENAA in Egypt, jointly dug the first shovel of soil for Wanhe Home Appliances Co., Ltd., marking the official entry of the Egyptian foundation into the construction phase.

According to the announcement released by Wanhe Electric, its wholly-owned subsidiary Hong Kong Wanhe and its wholly-owned subsidiary, US Wanhe, plan to invest in establishing a joint venture in Egypt. According to the latest plan, the total investment of the Egyptian base will not exceed 12 million US dollars, with a land area of 26000 square meters and a building area of approximately 14600 square meters. The base is expected to create 300 job opportunities for the local area and is designed with an annual production capacity of 2 million sets of water heater components and 500000 units of complete water heater units. These products will be sold to global markets, especially in Europe and Africa. Keywords: overseas engineering, international engineering construction, foreign engineering construction news.

In the current complex and turbulent global economic situation, as well as increasingly fierce market competition, overseas markets have become stabilizers for the continuous growth of Wanhe's performance, and export business is an important support for Wanhe's continuous growth, accounting for nearly 40% of Wanhe's overall sales revenue. Therefore, going abroad and investing in the construction of manufacturing bases overseas has become an important option that Wanhe must consider.

By investing in and constructing two overseas manufacturing bases in Thailand and Egypt, Wanhe Electric will be able to more flexibly respond to macroeconomic fluctuations, industrial policy adjustments, and changes in the international trade landscape. This is not only conducive to meeting the needs of the company's overseas business expansion, creating more favorable conditions for deepening the international market, but also an important step for Wanhe Electric to practice its international development strategy. (This article is from the official website of Jiandao: www.seetao. com. Reproduction without permission is not allowed, otherwise it will be punished. Please indicate Jiandao's website and the original link when reprinting.) Jiandao's mechanical column editor/Zhou Yingwen

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