Saraya Japanese Middle East for Industrial Investment has inaugurated a $12 million factory in the Sokhna Integrated Zone within the Suez Canal Economic Zone (SCZone).
The inauguration ceremony, held at the Orascom Industrial Development site, was attended by SCZone Chairperson Waleid Gamal El-Din, Japanese Ambassador to Cairo Oka Hiroshi, and Saraya Chairperson Yusuke Saraya.
New Manufacturing Capabilities
The facility, covering 20,000 square meters, will be developed in two phases. It includes four production lines focused on sterilization products, natural cosmetics, packaging the sugar-free sweetener “Lakanto,” and jojoba oil extraction for export to European and Asian cosmetics companies.
Waleid Gamal El-Din highlighted the SCZone’s collaboration with Japan, noting the car ro-ro terminal in East Port Said developed with the Japanese-French alliance “Toyota Tsusho Bolloré NYK.” He commended the Saraya factory’s opening as a reflection of the SCZone’s ability to attract diverse international investments.
Reinforcing Bilateral Ties
The SCZone’s promotional tour to Tokyo last year played a crucial role in strengthening this partnership, with over 100 Japanese companies expressing interest in investing in the zone.
Japanese Ambassador Hiroshi emphasized the factory’s importance as a symbol of the strategic partnership between Egypt and Japan. He reiterated Japan’s commitment to fostering cooperation across various sectors and highlighted collaboration with the SCZone through the Japanese International Cooperation Agency (JICA) to enhance Japanese investments in the region.
Future Expansion
Saraya Chairperson Yusuke Saraya shared the company’s journey in Egypt, which began in 2018 with a focus on leveraging Japanese technology for sterilization, public health, and cosmetics. The new factory serves as Saraya’s first major production base in the SCZone, aimed at supplying markets in the Middle East and Africa.
Plans for the facility’s second phase are already underway. This expansion will introduce two more production lines for sterile latex gloves, liquid chocolate products, and dietary chocolate, covering an additional 12,000 square meters.
Strategic Location
The SCZone’s strategic location as a global investment hub and gateway to Africa makes it an attractive destination for international businesses. The establishment of Saraya’s factory is expected to enhance bilateral trade relations, contribute to the local economy, create job opportunities, and facilitate technological exchange.
Saraya Japan’s new venture highlights the ongoing collaborative efforts between Egypt and Japan, paving the way for a future of mutual growth and shared success.
Photo source: Google
Montel Kamau
Serrari Financial Analyst
26th June, 2024
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