Industry News
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Egypt to establish tyre factory with 1 bln euro investment -cabinet
Egypt is set to establish a tyre factory in the Suez Canal Economic Zone with an investment worth of 1 billion euros, according to a cabinet statement.
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Egypt Grants Golden License for Electric Vehicles & Gas Expansion Projects
This expansion will span about 33 acres within the Renaissance Industrial Zone in Al-Amiriya, Alexandria Governorate.
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Dice Sports and Casual Wear receives preliminary offer for 90% stake acquisition
A consortium led by Toma for Commercial and Industrial Investments, along with Maged Toma, is interested in acquiring 90% of Dice Sports and Casual Wear, worth over LE 1.1 billion.
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Used Car Market Skyrockets in Egypt Amidst Growing Prices of New Ones
Due to the alarmingly high prices of new cars in Egypt, the used car market is experiencing a rapid boom. A combination of economic challenges has led to this change.
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Beni Suef power station to be sold to foreign investor
According to informed sources, the final buyer of the station will have to pay off the loans of international creditors, which amount to nearly $2.25b
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PACHIN to delist shares from Egyptian Exchange after acquisition by UAE
Egypt-based Paint and Chemicals Industries (PACHIN) company will voluntarily delist its shares from the Egyptian Exchange after being acquired by UAE.
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Egypt to relaunch zero-customs car import initiative for expats
The Egyptian Cabinet issued a draft law to relaunch the zero-customs car import initiative for expats for three months.
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El Mohandes Jotun inaugurates state-of-the-art factory at Zona Franca industrial zone
With an investment surpassing $100 million, the new factory is built over an expansive area of 94,000 square meters.
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Egypt licenses 7,200 industrial projects in 2022
The Egyptian Ministry of Trade and Industry issued 7,200 licences for industrial projects in 2022, Trade Minister Ahmed Samir stated on Wednesday.
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Egypt constructing new mega electrical industries complex in Alexandria
The new complex, which will be producing parts for bus manufacturing in Egypt, is expected to create 600 new jobs, added Samir.
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Egypt: Talaat Moustafa Group, Colin’s partner to open 3 branches in San Stefano, Madinaty
All Seasons Park is one of the latest integrated commercial centres and shopping destinations developed by the Talaat Moustafa Group.
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IDA extends deadline for its 790 land plots offering
The investment opportunity for the industrial lands announced by IDA extend over 14 governorates, the allocated lands has a total area of 1.7m m.
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Egyptian automaker MCV partners with Volvo to produce, export e-buses to Europe
Egyptian Manufacturing Commercial Vehicles (MCV) company signed an agreement with Swedish auto manufacturer Volvo.
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Egypt plans to raise industrial production by 19% in FY2023/2024
The industrial sector in Egypt is divided into non-petroleum industries (80 percent), and petroleum industries (20 percent).
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GAFI delivers contracts to investors in Damietta Furniture City
The DFC consists of 54 hangars comprising 1,348 workshops spanning over 129,000 square meters.
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Egypt's non-oil private sector stable in August
The Egyptian non-oil private sector was largely stable in August, despite the outlook for the sector remaining negative due to inflationary pressures.
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Huawei Egypt, MCV Energy partners to roll out digital power solutions in Egyptian market
The deal comes within the framework of both companies’ efforts to provide accessible and cost-efficient smart and integrated power solutions.
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Cabinet announces Egypt’s power outage plan will be lifted by end of summer
Egypt’s plan to reduce electricity loads by cutting off electricity for an hour a day will be lifted by the end of the summer, the cabinet announced.
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Austrian Kronospan plans to set up wood panel factory in Egypt with $50m investment
The company has an industrial history dating back to 1897 and owns 39 sites around the world employing 18,000 workers.
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UAE company purchases 30% stake in Eastern Company, Cabinet
Sources told local media last week that the Egyptian government expected to finalize the sale of a stake in Eastern Company.