Egypt and Poland’s PADMA discuss development of $73 million furniture plant in New Alamein

Egyptian officials recently held talks with the chairman of Poland-based furniture company PADMA to advance plans for a $73 million furniture manufacturing plant in New Alamein, according to Egypt Today.

The 400,000-square-meter facility, already under construction, is expected to begin operations by early 2026. Its production will focus exclusively on exports to European and U.S. markets, potentially generating over $250 million annually in export revenue for Egypt.

New Alamein, a modern city under development along the Mediterranean coast, is part of President Abdel Fattah el-Sisi's ambitious infrastructure projects. Designed as a hub for tourism, education, and government activities, the city is projected to house a population of three million by 2030.

While the president has promoted such megaprojects as catalysts for economic growth and job creation, critics argue that funds would be better allocated to education, healthcare, and addressing high inflation and unemployment affecting millions of Egyptians. Supporters, however, see these projects as essential for boosting Egypt's global standing and economic resilience.

Earlier this year, Egypt secured an $8 billion loan from the International Monetary Fund, contingent on reforms that include attracting foreign investments like the PADMA collaboration.