Egypt offers 52 state-backed investment projects
The projects, which come with preliminary feasibility studies and have been approved for presentation to investors, were announced by Public Business Sector Minister Mohamed Shimi at a press conference in Egypt’s New Capital on Tuesday.
The move comes as Cairo presses ahead with commitments under its $8 billion Extended Fund Facility (EFF) agreement with the International Monetary Fund (IMF), which includes expanding the state divestment and initial public offering (IPO) programme.
According to Shimi, the investment opportunities span tourism, chemicals, metals, spinning and weaving, automotive manufacturing, and pharmaceuticals, to improve operational efficiency and attract private and foreign capital.
Tourism assets feature prominently. Shimi said talks are underway with the Ministry of Endowments to operate the historic Luxor Hotel under an international brand and redevelop the surrounding land. Other state-owned properties are also being converted into hotels as Egypt targets higher tourist inflows, with a committee formed to oversee partnerships and asset use.
In the industrial sector, the ministry is coordinating with the Ministry of Petroleum and Mineral Resources to establish fertilizer plants to expand nitrogen fertilizer output and modernize Delta Fertilizers. Shimi said several major projects are expected to be completed in 2026, including phases of the national textile development programme, expanded aluminium and anode production, new pharmaceutical projects, the launch of El-Nasr Automotive vehicles, and the operation of a solar power plant at Egypt Aluminium in partnership with Norway’s Scatec.
Shimi said the spinning and weaving industry remains the most structurally challenged part of the ministry’s portfolio. A restructuring programme is underway to merge seven companies, improve asset utilization, and raise productivity. Misr Spinning and Weaving in El-Mahalla El-Kubra accounts for about 42 percent of the programme. The first phase was inaugurated in December 2024, with a second phase expected to be completed by late 2025 or early 2026.
Work is ongoing at sites in Kafr El-Dawar, Dakahlia, Damietta, Helwan, and Minya, with completion expected by mid-2025, while the Shebin El-Kom facility has already begun operations. Shimi said Egypt has sufficient locally produced cotton to meet domestic manufacturing needs for a full year.
Looking ahead, Shimi said the ministry is relying on gap analysis studies to ensure progress remains aligned with earlier international assessments, including the Werner study, while the current phase focuses on upgrading human capital and maintaining both old and new machinery to secure sustainable production.
The minister said the ministry’s 2024–2027 strategy prioritizes partnerships with private and foreign investors rather than asset sales, in line with Egypt’s Vision 2030 and the State Ownership Policy Document. He added that the ministry oversees six holding companies and is rolling out enterprise resource planning (ERP) systems across subsidiaries to improve transparency and management.
In the tourism sector, Shimi said the historic Shepheard Hotel is scheduled to reopen in July 2027 with about 300 rooms under the Mandarin brand. A management agreement has also been signed with India’s Taj Group to operate the InterContinental Hotel, which will have 310 rooms once completed.
Additional plans include expanding Steigenberger Ras El Bar, developing hotels in El-Mahalla, Ain Sokhna, the Delta, and Upper Egypt.
In tandem, negotiations are underway with Talaat Moustafa Group to increase capacity at the Mena House Hotel.
The ministry is also seeking to redevelop Misr Tourism Company assets, including the Cotton Palace building in Alexandria and the Romance Hotel, and develop new hotel and serviced apartment projects, as part of a broader push to strengthen tourism infrastructure and support Egypt’s economic growth.