GE to Invest $200 Million in a Multi-modal Manufacturing and Training Facility in Egypt
As Egypt targets 7% annual GDP growth and to reduce unemployment to below 10% over the next four years, the need for skilled workers and entrepreneurs, as well as new employment opportunities is needed in country.
At the Egypt Economic Development Conference GE announced an investment of a US$200 million in a multimodal manufacturing, engineering, services and training center which will focus on various industries including power generation, renewables, water, oil & gas, aviation and rail transportation.
The new multi-modal manufacturing and training facility in Suez will serve Egypt and the region. This first-of-its-kind facility in the region will be built on the concept of flexibility, allowing for the manufacturing of a diverse set of products and catering to GE’s broad range of businesses. It will work on the principle of a ‘Shared Centre of Excellence’ on process, capability and human capital aimed at driving economies of scale. It will create approximately 500 jobs for skilled Egyptian professionals in the next three to five years.
The Center will provide extensive and hands-on technical, operational and leadership training programs for Egyptian professionals as well as extend advisory support to the participants who go on to build SMEs that add to the Egyptian supply chain. In addition, the manufacturing, engineering and services will focus on promoting localized innovation and developing customized solutions to drive higher productivity and efficiencies across all industry touch points – from power plants to hospitals.
With its location in Suez, the training center will play a big role in supporting the massive Suez Canal Expansion Program.
For more than 40 years, GE has been a partner to Egypt’s economic development and infrastructure growth. Read more about GE’s commitment to helping Egypt overcome its toughest challenges and most ambitious goals.