Cairo: The Egyptian Ministry of Industry, through the Industrial Modernization Center, has signed a memorandum of understanding (MoU) with UAE’s Global South Utilities and China’s Weiheng. This agreement is set to establish a USD 12 million energy storage battery factory, aiming to bolster Egypt’s Sustainable Energy Strategy 2035. The signing ceremony, attended by Egyptian Prime Minister Mostafa Madbouly, marks a significant step towards enhancing energy efficiency, promoting renewable energy, and developing clean energy infrastructure. Additionally, the project seeks to offer energy storage solutions to both local and regional markets.
According to Kuwait News Agency, Lieutenant General Kamel Al-Wazir, Minister of Industry and Transport, emphasized that the Industrial Modernization Center will play a crucial role in facilitating the factory’s development. The center will provide essential data, investment incentives, and support for local supply chains to ensure the project’s success.
The MoU details the c
ommitment of Emirati Global South Utilities to aid Weiheng in conducting a feasibility study for the factory. The planned facility will have a production capacity of 1 gigawatt, reflecting a significant investment in the region’s energy sector.
UAE Minister Sultan Al Jaber remarked that this initiative is in line with UAE leadership’s directives to explore cooperative ventures in advanced industries and renewable energy. The collaboration is anticipated to drive growth and promote self-sufficiency for both Egypt and the UAE.