Egypt Kuwait Holding to open wood factory with $120M investments

The Egyptian Prime Minister met with the Chairman of the Board of Directors of the Egypt Kuwait Holding, Loay Al Kharafi to discuss the company's investments in Egypt and avenues for expansion.

 

Al Kharafi announced that his company will open a MDF wood manufacturing factory with investments amounting to $120 million. He also added that they are looking to expand investment opportunities in Egypt.

 

Al-Kharafi stressed the keenness and seriousness in searching for available investment opportunities in Egypt, as he offered to enter into some of the opportunities available within the Egyptian initial public offering (IPO) program and as well as obtaining the right to implement electricity distribution stations with the BOT system pointing out that they had already obtained the implementation of a station in the 10th of Ramadan.

 

Support from Gulf countries has played an important role in maintaining Egypt’s reserves,  in November 2023 anonymous sources have revealed that Kuwait will extend the maturity of its $4 billion deposit at the Central Bank of Egypt (CBE) to maintain Egypt’s international reserves.