logo
Al-Wazir inaugurates glass factory, lays foundation stone for new appliance plant at Elaraby Group

Al-Wazir inaugurates glass factory, lays foundation stone for new appliance plant at Elaraby Group

Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir conducted an extensive field tour that included inaugurating and inspecting several major industrial projects in Monufeya, alongside a visit to a specialised fire-fighting equipment factory in Cairo.
The tour began in the industrial city of Quesna, Monufeya, with a visit to Elaraby Group's factory complex. Al-Wazir inaugurated an engineered glass factory built on an area of 20,000 square metres, established with investments of $25m in partnership with the Japanese company Yuattsuchi.
The factory produces various types of building façade glass—including double-glazed, thermal, and curved glass—with an annual production capacity of up to 2 million square metres. Relying entirely on locally sourced components, the factory plans to export 50% of its output to markets across the Middle East and Africa. It currently provides around 300 direct job opportunities.
In the same complex, the minister laid the foundation stone for a new refrigerator and deep freezer factory affiliated with Elaraby Group. Built on an area of 107,000 square metres, this project will be established with investments of $108m in partnership with Japan's Sharp Corporation and is expected to achieve an annual production capacity of 900,000 units. Combined, the two projects are projected to create over 4,000 direct job opportunities.
During his tour of the engineered glass factory, Al-Wazir inspected storage facilities, double-glazing production lines, insulation rooms, thermal ovens, CNC machinery, and durability testing zones. He also visited the exhibition area displaying glass applications in home appliances, architecture, automotive, and railway sectors.
The minister's tour continued with a visit to ATCO Pharma for Pharmaceutical Industries, located in the second industrial zone of Quesna. Covering an area of 12,500 square metres and built with investments of EGP 1bn, the factory produces human and veterinary medicines, as well as nutritional supplements. Approximately 98% of its production is dedicated to the local market, while exports reach over 10 countries. The factory employs around 1,000 workers. During the visit, Al-Wazir toured the chemical and microbiological analysis laboratories, production and packaging lines for liquids and tablets, blistering and packaging sections, and a small exhibition of finished products.
The tour also included a stop at the Bell Color factory for leather tanning and finishing, established on an area of 63,000 square metres with total investments of $200m. The factory employs around 938 workers and incorporates between 65% and 75% local content in its products. More than 90% of its annual production is exported to countries including China, India, Russia, the United States, the UAE, and Saudi Arabia. With an annual capacity of 40 million square feet of semi-finished and finished leather, alongside 3,000 tonnes each of gelatin and amino acids, the factory's operations include collagen extraction and drying, dyeing, pressing, sanding, sorting, finishing, and packaging.
The minister concluded his tour with a visit to Bavaria's factory for the production of fire-fighting equipment, located in the Gesr El-Suez area of Cairo. Spanning 4,574 square metres, the factory employs around 500 workers. Al-Wazir inspected its painting and welding lines, automated forming and coating sections, assembly lines, product and raw material testing labs, automated storage systems, and the export dock.
At the end of the tour, Al-Wazir reaffirmed the state's commitment to supporting and expanding industry, describing it as the main driver of development and a cornerstone for building a resilient national economy.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Nile Plastic Recycling Company expands with $15 mln investment in SCZone - Economy
Nile Plastic Recycling Company expands with $15 mln investment in SCZone - Economy

Al-Ahram Weekly

time2 hours ago

  • Al-Ahram Weekly

Nile Plastic Recycling Company expands with $15 mln investment in SCZone - Economy

The Suez Canal Economic Zone (SCZone) announced Tuesday the expansion of the Nile Plastic Recycling Company's project in Ain Sokhna, with an additional $15 million investment aimed at establishing a new polyethylene terephthalate (PET) recycling facility. The agreement was signed in the New Administrative Capital in the presence of SCZone Chairman Walid Gamal El-Din. According to a statement from the General Authority for the SCZone, the new investment—equivalent to around EGP 742 million—will fund a 10,000-square-metre facility designed to process PET, the key raw material used in food-grade plastic bottles. The expansion is expected to create 500 new direct job opportunities and produce 20,000 tons of processed plastic waste annually. The project will export 70 percent of its output, with the remaining 30 percent allocated to the local market, aligning with Egypt's broader industrial export strategy and efforts to increase the value of domestically recycled products. The Nile Plastic Recycling Company initially launched in November 2024 with $20 million in capital. Its first facility spans 12,000 square metres and is expected to begin operations in the first half of 2026. Gamal El-Din praised the company's progress in the first phase and said the expansion reflects growing investor confidence in the industrial environment of the SCZone. He added that the move aligns with the zone's green economy strategy and Egypt's broader push toward sustainable, low-emission industries. 'We continue to attract quality investments in the circular economy and green transformation,' Gamal El-Din said, noting that recycling projects are a core pillar of this transition. The signing ceremony was attended by senior SCZone officials and company representatives. Follow us on: Facebook Instagram Whatsapp Short link:

Minister of Petroleum: Mining Sector Achieves $1.5 Billion in Gold and Silver Sales Over One Year
Minister of Petroleum: Mining Sector Achieves $1.5 Billion in Gold and Silver Sales Over One Year

See - Sada Elbalad

time3 hours ago

  • See - Sada Elbalad

Minister of Petroleum: Mining Sector Achieves $1.5 Billion in Gold and Silver Sales Over One Year

Waleed Farouk Kareem Badawi, Minister of Petroleum and Mineral Resources, stated that promising indications of new gold reserves in Egypt's Eastern Desert were revealed during an exploratory visit conducted by global mining giant Barrick Gold last April. Speaking at the Egypt Mining Forum held today in Cairo, the minister noted that the mining sector witnessed exceptional performance last year. Production of mineral ores increased by 39%, reaching 26 million tons, while export revenues from these ores jumped by 131%, generating an additional $446 million. Badawi pointed out that Egypt produced approximately 640,000 ounces of gold and silver over the past year. He explained that gold sales saw strong growth of 57%, reaching around $1.5 billion, reflecting the sector's growing attractiveness to international investors. He added, 'A total of 1.4 million tons of mineral ores and products were exported during the year, valued at $52.5 million — excluding phosphate ore.' read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean

Slight Rise in Gold Prices as Dollar Retreats and Markets Await U.S. Inflation Data
Slight Rise in Gold Prices as Dollar Retreats and Markets Await U.S. Inflation Data

See - Sada Elbalad

time3 hours ago

  • See - Sada Elbalad

Slight Rise in Gold Prices as Dollar Retreats and Markets Await U.S. Inflation Data

Waleed Farouk Gold prices saw a slight increase in both local and international markets during Tuesday's trading session, supported by a weakening U.S. dollar and investor anticipation of the upcoming U.S. inflation report expected later today. In Egypt, the price of 21-karat gold rose by EGP 5, reaching EGP 4,660 per gram. Meanwhile, the global spot price of gold rose by approximately $17, hitting $3,360 per ounce. Other local prices recorded the following: 24-karat gold: EGP 5,326 per gram,18-karat gold: EGP 3,994 per gram,14-karat gold: EGP 3,107 per gram,Gold sovereign (8 grams of 21-karat): EGP 37,280. This comes after a decline in prices on Monday, where gold fell by EGP 5, starting at EGP 4,660 and closing at EGP 4,655 per gram, while the global ounce price dropped by $12—from $3,355 to $3,343. Tuesday's gains come as the U.S. dollar paused its recent multi-week rally, with markets focused on the Consumer Price Index (CPI) report due later in the day. Markets expect headline CPI to rise 2.7% year-on-year in June, while core CPI is forecast to increase 3.0%, according to consensus estimates. A lower-than-expected reading could strengthen expectations for an early interest rate cut by the Federal Reserve. Trade policy remains a significant risk factor in precious metals markets. Recent statements from the U.S. administration regarding new tariffs have added uncertainty. However, President Trump has signaled a potential reopening of trade talks before the August 1 deadline for imposing tariffs, softening his previous stance on sanctions and duties. While this has somewhat eased fears of broader economic disruption, investors remain cautious. Monetary policy shifts and global trade dynamics continue to strongly influence the price movements of gold and silver. Upcoming data for CPI and the Producer Price Index (PPI) is likely to play a key role in determining market direction, as investors look for clearer signals on the Federal Reserve's next move on interest rates. Current market expectations point to a potential 50 basis point rate cut before the end of the year—a scenario that boosts gold's appeal as a yield-free hedge, particularly in a low-interest rate environment. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store