Industry News
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Revving Up: Egypt's auto industry accelerates with new fund, council
Heiba announced the signing of three memorandums of understanding with some of the world's biggest automakers.
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Transformative Industries: A Catalyst for Egypt’s Economic Growth
The average contribution of transformative industries to the gross domestic product (GDP) during the last two decades reached about 16.9%.
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Egypt’s power outages could extend to September in worst-case scenario
As power outages continue to plague the country, many Egyptians are turning to the Ministry of Electricity to find out more about the situation.
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Higher education min. attends signing of contract on Egypt’s first locally-manufactured electric vehicle
The exhibition was held on the sidelines of the launch of the National Strategy for Intellectual Property by the Egyptian State.
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Egyptian Tax Authority, Industries Union unite for smooth tax-customs integration
He emphasised the significant technological advances made by both the Ministry of Finance and the Egyptian Tax Authority.
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Egypt’s Al Amal wants resume Lada assembly in 2024
Al Amal Auto, the local agent of Lada and BYD vehicles, is looking to resume assembly of Lada cars in early 2024.
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China-based Midea Group eyes acquiring Zanussi brand in Egypt
The Swedish group aims to sell its assets in Egypt due to the current global financial issues facing it.
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Beko Egypt on track to open $100mln home appliances factory in Egypt in Q4
Günel outlined Beko Egypt's ambitious plans to deepen localisation and make Egypt a global export hub for household appliances.
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Fine Hygienic Holding aims to increase its investments in Egypt to $185m
Fine Hygienic Holding, affiliated to Nuqul Group, aims to increase its investments in Egypt to $185m next year, compared to about $178m currently.
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Sidi Kerir Petrochemicals sees 158.33% YoY profit surge in H1
Meanwhile, revenues grew 69.19% YoY to EGP 6.563 million, up from EGP 3.879 million in H1 2022.
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Turkish Vestel, Zorlu to establish home appliances factory in Egypt with $70 mln
The project is by Turkish companies Vestel, a home and professional appliance manufacturer, and Zorlu, a multinational holding company.
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Top 10 of Egypt's automotive industry
Egypt's automotive industry has been developing for 50 years and is now the second-largest market in Africa and the 42nd largest in the world.
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ENR and Lenza Egypt to establish new spare parts manufacturing company
The Egyptian National Railways (ENR) has announced plans to establish a new join-stock company to produce mechanical spare parts.
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Saudi cabinet approves MoU with Egypt in electricity, renewable energy spheres
The Saudi Cabinet agreed on a (MoU) between Saudi Arabia and Egypt to cooperate in the spheres of electricity, renewable energy and clean hydrogen.
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Fertiglobe reports H1 2023 revenues of $1.2bln and adjusted EBITDA of $516mln
Q2 2023 results were impacted by lower selling prices, as volatility in European gas prices continued.
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IDSC: Egypt Witnesses Boom in Electronic and High-Tech Industries
Between 2016 and 2021, Egypt saw a significant increase of 460% in the proportion of technological goods exports to total industrial exports.
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Mienta inks $5mln deal to build its third factory in Egypt
This comes under the land allocation contract signed between Mienta and Elsewedy Industrial Development, a subsidiary of Elsewedy Electric.
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Al Amal to temporarily shutter BYD assembly plant in Egypt on FX shortage
Al Amal Auto will temporarily suspend operations at its BYD assembly plant within weeks.