The deal comes within the framework of both companies’ efforts to provide accessible and cost-efficient smart and integrated power solutions.
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.
The company has an industrial history dating back to 1897 and owns 39 sites around the world employing 18,000 workers.
Sources told local media last week that the Egyptian government expected to finalize the sale of a stake in Eastern Company.
Prime Minister Mostafa Madbouly announced on Thursday that the state is ready to provide a package of incentives to encourage the localization.
The city, located in Damietta Governorate, some 190 km north of the capital Cairo, has been leading shipbuilding in the North African country.
This came within the framework of the Egyptian president’s directives to transfer and localize the latest manufacturing technologies and industry 4.0
The petroleum minister said there is a chance for partnership with Indorama, noting that the raw materials for the two factories are available.
Based on its investment plans, FHH expects to increase its production capacity in Egypt in 2024, said Ghassan Nuqul.
The project aims to meet the local market’s demand as well as turn to exporting at a later stage of production.
A tough market has seen vehicle sales in Egypt in the first half of 2023 plummet by 69.8 percent compared to the same period last year.
Basic metals production was up by 4.16 percent to 59.59 in June 2023, compared to 57.21 in May 2023 when it dipped by 1.79 percent.
Established in 1929, EFIC is an Egypt-based company involved in the production and marketing of agricultural chemicals.
Egypt Cady Textile Company started the construction of a 145,500-square-meter eco-friendly clothing and textile factory in the TEDA-Egypt zone.
The company generated revenues of EGP 22.045 billion in FY 2022/2023, higher than EGP 14.481 billion in a FY earlier.
The land inspected will see the launch of the first phase of metallic silicon, soda ash and its derivatives projects, and other planned projects.
This came during his meeting with officials of the the National Association of Automobile Manufacturers of South Africa (NAAMSA).
Egypt's Prime Minister Mostafa Madbouly said the government is working to promote the private sector’s role and increase its contribution.
Military Production Company For Projects and Engineering Consultancy should be utilized in light of leap and development.