Egypt signs contract with China's CATL to build electric battery factory

Prime Minister Mostafa Madbouly witnessed the signing of a contract between Egypt's BME and China's CATL to establish an electric battery factory.

• Madbouly witnessed the contract signing this morning at a ceremony attended by Industry Minister Khaled Hashim and project officials.
• BME Chairman Maged Wahib and CATL International Investment Manager Luo Haining signed the contract.
• Phase one targets 1 GWh annual output with initial investment exceeding 2 billion Egyptian pounds.
• Madbouly said the government expects rapid project implementation and expediting of subsequent steps.