Industry News
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Schneider Electric and Redcon Properties Forge Sustainable Partnership in Egypt
This landmark agreement signifies a significant stride toward creating a blueprint for smart and sustainable communities within Egypt.
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Egypt's Suez Canal Authority to co-establish boat manufacturing company
Egyptian Prime Minister Mostafa Madbouly approved permitting the Suez Canal Authority (SCA) to co-establish Suez Canal for Modern Boats.
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Egypt’s Mtor nabs $2.8M pre-seed for its online auto parts marketplace
Other investors that participated in the round include Dutch Founders Fund, Aditum Ventures, LoftyInc Capital and other local and global investors.
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Egypt’s PMI for non-oil business rises in November for sixth time in 2023
Egypt’s Purchasing Managers Index (PMI) for the non-oil private sector rose slightly in November to 48.4 points compared to 47.9 points in October.
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China’s Befar wants to build USD 2 bn chemicals production complex in Egypt
The first phase of the project is expected to cost USD 500 mn and will be powered by solar and wind energy.
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What the government is doing to boost Egypt’s marble + granite industry
The broad majority of the marble + granite industry is concentrated in the Shaq El Tebaan in Maadi’s Tora area, east of the Autostrad road.
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Egyptian engineering exports surge 8.5% to $3.5bn in 10M 2023
The EECE’s monthly report highlighted that engineering exports in October 2023 alone achieved a remarkable 22% growth.
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Turkish textile firm to invest USD 500 mn in new Egypt factory
The company will establish the factory through its local subsidiary KCG Textile Egypt.
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Why Egypt’s Queen Nefertiti is one of the original beauty influencers
The eyeliner industry might just have to thank Queen Nefertiti for turning the cosmetic into a worldwide sensation.
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SCZONE, BEFAR sign letter of intent to establish $2B industrial green complex
The complex is expected to rely on renewable energy sources such as solar and wind power.
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Egypt : 3.86% Decrease in Manufacturing and extractive index during September 2023
CAPMAS has updated the index methodology using the base year 2012/2013 and at the level of main indices of industrial activity.
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MSMEDA provides LE 4.1B to fund 128k projects over 10 months in 2023
In terms of supporting small-scale initiatives in North Sinai, Rahmy revealed that MSMEDA invested EGP 240 million in 15,600 projects.
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Egypt’s manufacturing, extractive industries contract by 3.86% in September
Egypt’s manufacturing and extractive industries (excluding crude oil and petroleum products) contracted by 3.86 percent on a monthly basis in Sep.
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Egypt: Arab Cotton Ginning’s consolidated profits soar 120.8% YoY in FY2022/23
The company’s revenues climbed to EGP 3.366 billion last FY, up from EGP 2.075 billion in the prior year.
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Egypt climate envoy sees international funds helping developing industries decarbonise
A financing scheme that draws on funding from Western donors to help developing countries shift to cleaner power generation could be mirrored.
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LONGi’s ‘Green Electricity + Green Hydrogen’ Solution Makes its Debut in Egypt
LONGi collaborated with leaders and practitioners from across the renewable energy value chain and industry innovation ecosystem.
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Top 10 petrochemical industry of Egypt
Needs of petrochemicals are growing in paints, rubber, plastics, detergents, textiles, and medicines. Egypt's exports surged by 23% to $8.6 billion.
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KG Mobility unveils Torres in Egypt
The company held a launching event of its mid-sized SUV in Cairo, aiming to expand the African market.
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Govt should provide more incentives for local industry amid anti-Israel boycott campaign
In order to compete with international brands that are established in the market, Egyptian brands need to launch successful marketing campaigns.
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Emirates NBD, Turkish Hayat sign €30 mln loan to establish tissue facility in Ain Sokhna
Earlier this year, Egypt and Turkey expressed their intention to further develop trade exchange and encourage Turkish investments in Egypt.