Minister of Investment and Foreign Trade, Hassan El-Khatib, recently met with Darek Krupa, Chairman of PADMA, and his accompanying delegation to explore the company’s plan to establish an industrial complex for furniture production in New Alamein City, with an investment of €70 million.

The project is expected to begin in the first quarter of 2026, with a goal of exporting 100% of production to European and American markets.

The facility aims to achieve annual exports of approximately €250 million. The initial phase involves a €70 million investment, with a local content target of 40%, rising to 80% within five years.

Minister El-Khatib expressed the ministry’s full commitment to supporting PADMA and facilitating the swift initiation of the project, praising New Alamein as an ideal launch site for PADMA’s future investments and projects in Egypt.

He highlighted the city’s significant potential in investment, industry, and tourism.

El-Khatib also noted that the government is actively implementing financial, monetary, and trade policy reforms to attract more local and foreign investment, boost Egyptian exports to international markets, and streamline foreign trade.

He emphasized Egypt’s attractive investment potential, which includes a skilled workforce, exceptional engineering talent, and competitive wages.

Krupa expressed his appreciation for the Egyptian government’s support for the business community and foreign investors. He shared that construction work for the industrial complex in New Alamein has already commenced on a 400,000-square-meter site.

The company is currently training and upskilling technical staff in preparation for production.

It Is worth noting that PADMA is also planning additional projects in the same sector across Egypt, including in the new industrial zone in the New Administrative Capital, Port Said, Toshka, and Damietta.