Siemens was, at this time, unable to reveal the location or a timeline for the factory or future projects.
However, Siemens wind power CEO Markus Tacke said: "Egypt has great potential for wind power generation, especially in the Gulf of Suez and the Nile Valley", suggesting these are areas for potential development.
The manufacturer said the blade factory would create 1,000 jobs, "nearly trebling" Siemens' presence in the country.
The agreement was part of a wider deal, which would see Siemens develop 6.4GW of power generation.
Egypt's government has targeted 7.2GW of wind energy by 2020. The country has been suffering an energy crisis recently as demand outweighs supply plus the political upheaval that has affected the area has led to attacks on energy production facilities.
In January, a 250MW tender in the Gulf of Suez was delayed for a second time.
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