A memorandum of understanding has been signed between the General Authority for Free Zones and Investment (GAFI) and Sumitomo Egypt for the construction of a plant to produce braided automotive cables. The factory will cover more than 150,000 square meters in the city of 10 Ramadan and will operate under the free zone system.

The braided cable plant will be Sumitomo's largest in the world in terms of manufacturing this specific product, according to the firm's press release. GAFI Chairman Mohamed Abdel Wahab noted that Sumitomo Egypt already produces braided cables, supplying automotive companies in Europe and the Middle East. This is through eight factories located in Port Said and in the cities of October 6 and 10 of Ramadan in Cairo.