Kemet, China's Cornex to establish $200M energy storage battery plant in Egypt
Updated 1/18/2026 11:00:00 AMArab Finance: Kemet Industries Group and China’s energy storage batteries manufacturer Cornex signed a cooperation agreement to establish a $200 million energy storage batteries factory in Egypt, according to a statement.
Relying on local industrial inputs, the factory has an annual production capacity of 5 gigawatt-hours (GWh).
Minister of Electricity and Renewable Energy Mahmoud Esmat pointed out that the agreement also covers technology transfer, serving as a model for future projects in Egypt.
Esmat praised the role of the private sector in the electrical equipment and supplies industry, particularly companies working to localize new industries and advanced technologies.
The electricity and energy sector has contributed to anchoring Egypt’s position as a regional energy hub and a center for electrical equipment manufacturing, the minister noted.
He added that the state has prioritized leveraging local products in the implementation of national energy strategy projects.
Therefore, the government is currently developing regulations and controls to increase the local component in renewable energy projects to 60%. This is in addition to ongoing efforts to attract more foreign investments and secure opportunities for companies enjoying the necessary technology.
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