Latest news with #Al-Wazir
Daily News Egypt
2 days ago
- Business
- Daily News Egypt
Egypt to establish three private free zone factories for PVC panels, textiles with $216.5m in investments
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir affirmed the government's ongoing commitment to reviewing applications for establishing private free zone projects and granting golden licenses, as part of broader efforts to attract investment and boost industrial development. Speaking during the 27th meeting of the Ministerial Group for Industrial Development — attended by ministers of electricity, housing, petroleum, planning, public enterprise, investment and other senior officials — Al-Wazir emphasised the importance of activating the one-stop shop system at the Industrial Development Authority. As the sole body authorised to issue industrial licences, this step aims to reduce bureaucratic overlap among entities responsible for land allocation and project approvals. During the meeting, the committee reviewed and approved three new private free zone projects submitted by industrial companies. These include: A PVC panels and flooring manufacturing plant in the industrial zone of New Alamein City, with investments of $108m, expected to create 2,150 job opportunities. A ready-made garments factory in the medium industries zone of New Beni Suef City, with investments of $30m, targeting 9,000 jobs. A textile manufacturing project in 10th of Ramadan City, Sharqia Governorate, with investments of $78.5m, set to provide 4,000 jobs. Al-Wazir noted that the PVC panels project represents a new industry for the Egyptian market and will help meet domestic demand from a strategic location in New Alamein. He added that the garments and textile factories align with Egypt's strategy to expand labor-intensive, energy-efficient industries where the country enjoys competitive advantages thanks to skilled labor and industry experience. The minister also highlighted government efforts to encourage industrial investment in governorates such as Beni Suef, Minya, and Fayoum, which are rich in skilled labor. Two integrated textile cities have already been launched in Wadi El-Saririya (Minya) and the North Fayoum Industrial Zone to support job creation, meet local market needs, and boost exports. As part of its broader strategy to enhance the investment climate and improve the management of industrial land, the meeting discussed mechanisms for upgrading utilities in industrial zones to ensure optimal infrastructure use in support of economic growth. Al-Wazir directed the formation of a joint technical committee — comprising representatives from the ministries of industry, planning, finance, housing, local development, and the Federation of Egyptian Industries — to study the restructuring of the Industrial Utilities Support Fund and expand utilities provision to underserved industrial areas. The review will cover administrative, financial, and technical aspects to maximise the fund's effectiveness in supporting industrial development and infrastructure improvements. The meeting also addressed policies to secure sustainable natural gas supplies for the industrial sector, taking into account energy cost challenges and factory operations. It highlighted the importance of rescheduling outstanding debts owed by factories to the Ministry of Petroleum and Mineral Resources through flexible mechanisms that enable continued production while protecting state rights. Additionally, the committee reviewed recent efforts by the Ministry of Petroleum to secure gas supplies for the national grid — including higher domestic extraction and the use of regasification vessels — which have helped meet rising industrial demand and maintain production momentum.
Daily News Egypt
3 days ago
- Business
- Daily News Egypt
Egypt targets self-sufficiency in porcelain products with private sector support
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir conducted an inspection tour of three specialized factories in the food, building materials, and metal industries located in Obour Industrial City, Qalyubeya. Al-Wazir began his visit at the factory complex of Obour Land for Food Industries, which covers 35,000 square metres and produces 170,000 tonnes of cheese, 70,000 tonnes of sterilized milk, and 50 million litres of juice annually. The company employs over 2,500 workers and exports to more than 33 countries, including the United States, Russia and the Gulf region. In 2024, the company's exports reached $20m. During the tour, the minister visited the sterilized milk and juice plant, inspected the reception tanks and filling machines, and viewed a mini-exhibition of the company's full product range. He also toured the white cheese factory, checking the packing hall's four production lines, cheese lab, Tetra Pak lines and final assembly area. Al-Wazir instructed the ministry's affiliated bodies to verify the safety of raw materials and equipment and stressed the need to double production of white cheese to meet rising local demand. The minister then visited the Royal Ceramica factory, which produces ceramic and porcelain tiles across a 70,000 sqm site with an annual capacity of 15 million sqm. Its products are exported to Europe, the Middle East and the US, and the factory employs 1,665 workers. Al-Wazir toured the product showroom and various production areas, including raw material preparation, drying, glazing, pressing, sorting, and kilns. He praised Royal Ceramica as the only facility in Egypt and the Middle East producing 2 cm and 3 cm thick porcelain tiles suitable for ports, airports and roads, as well as being the first to produce glazed porcelain tiles in sizes up to 60×120 cm. The minister highlighted the factory's sustainable production model, which recycles all water and raw material residues, reducing costs and improving resource efficiency. Al-Wazir directed that tiles for metro station construction projects be sourced locally to support Egyptian industry. He reaffirmed the government's commitment to protecting domestic manufacturers from dumping practices under WTO rules, aiming to lower the import bill and increase local production. He also expressed the ministry's goal for Royal Ceramica to achieve full self-sufficiency in porcelain products for the Egyptian market. Concluding his tour, Al-Wazir visited Obour Metal Industries factory 'Galva Metal,' part of Kandil Steel Group, which spans 46,300 sqm. The group's total investments amount to EGP 3bn, with annual production capacity of 900,000 tonnes of cold-rolled, galvanized and colour-coated steel coils. Products are exported to the Middle East, Africa, Europe and the US, and the group employs 1,400 workers. The minister viewed a mini-exhibition of finished products and inspected production lines, including pickling and rolling, grinding, furnaces, galvanizing and the zinc bath. He also toured two multi-slit cutting lines — the first of their kind in Egypt, the Middle East and Africa — designed to produce high-precision steel sheets for the home appliance sector. The €6m investment in these lines was completed in 2024.
Al-Ahram Weekly
4 days ago
- Business
- Al-Ahram Weekly
Taming cement prices - Economy - Al-Ahram Weekly
Egypt's cement factories are to operate at full capacity to cover local demand and limit price increases On the back of a major increase in cement prices, coupled with a shortage of supply, Kamel Al-Wazir, the deputy prime minister and minister of trade and industry, has instructed Egypt's cement factories to work at full capacity. Cement prices have been following an upward trend, recording around an 85 per cent year-on-year increase to surpass LE4,000 per ton. Al-Wazir gave cement companies nationwide a one-month grace period to restart idle production lines and address challenges hindering production, considering it a top priority to meet domestic market demand. Surplus production may be exported once local needs are fulfilled, he said. He added that sales prices at the factory and to the final consumer must be recorded on cement bags. In July 2021, the Egyptian Competition Authority (ECA) approved a request submitted by 23 cement companies to work at a percentage of their total capacity due to the oversupply in the local market, leading to a decline in the value of local sales. The decision was extended twice and has continued to be renewed annually since then. However, following the recent surge in cement prices, the ECA suspended the decision to reduce production for the two months of May and June. Reactivating idle capacity is meant to ensure that the production of cement, a strategic commodity, continues without disruption and to stabilise the market. It will make cement available in adequate quantities and at suitable prices, restore supply and production chains, and protect consumer rights, the Industry Ministry stated. Ahmed Al-Zeini, head of the Building Materials Division at the Chamber of Commerce, said that the recent price rises were due to a reduction in production capacity, making it difficult to meet market demand. When production was first curtailed, the price of cement stood at LE800 per ton, he said, expecting prices to decline once full capacity is restored. Ahmed Sherine Karim, head of the Cement Division at the Federation of Egyptian Industries, attributed the price increase to a sudden spike in demand, coupled with low production due to maintenance work at several factories and the stoppage of nine production lines, which had caused a supply shortage. Medhat Stephanous, former head of the Cement Division at the Federation of Egyptian Industries, said that a cause of the price hikes had been the surge in demand for cement abroad. Egypt's monthly cement production amounts to approximately five million tons, of which four million are allocated to the domestic market. One million tons are exported monthly to different markets. According to the Building Materials Export Council, Egypt exports cement to 95 countries, with African countries topping the list. Exports have increased over the past three years, rising from $465 million in 2021 to $670 million in 2022, marking a 44 per cent increase. Exports reached over $770 million in 2023, a growth rate of 14 per cent, and climbed to $913 million in 2024. Cement companies had halted exports for several years due to high local production costs, which made Egyptian cement less competitive. The energy crisis in Europe caused by the Russia-Ukraine war had prompted countries such as Turkey and Spain to halt cement exports. Stephanous said that the recent price hikes were due to increased costs as a result of the appreciation of the dollar against the pound, leading to higher fuel costs and a rise in shipping expenses due to regional geopolitical tensions. The Ministry of Industry, in coordination with the relevant authorities, said it will carry out a nationwide inspection campaign of all Egypt's cement factories to ensure compliance with the directive to operate all licensed production lines. Stephanous noted that returning to full production capacity will take time, with the production lines requiring maintenance. Al-Zeini said that resuming full production would help to restore market stability by September. * A version of this article appears in print in the 17 July, 2025 edition of Al-Ahram Weekly Follow us on: Facebook Instagram Whatsapp Short link:
Daily News Egypt
7 days ago
- Business
- Daily News Egypt
Egypt considers launching national platform to mobilise green financing for private-sector industrial transformation
Egypt's Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, has met with Minister of Planning and International Cooperation, Rania Al-Mashat, to coordinate efforts to prepare Egypt's industrial sector for the European Union's Carbon Border Adjustment Mechanism (CBAM) and advance green transformation. The meeting focused on ongoing cooperation for low-emission industry programmes, particularly the Green Sustainable Industries (GSI) initiative, and collaboration with the European Bank for Reconstruction and Development (EBRD) under the NWFE platform. Discussions also explored a proposal to establish a new national platform—modelled after NWFE—to mobilise concessional financing and international grants to support private-sector green industrial projects centred on decarbonisation, energy efficiency, and clean technologies. In addition, the ministers discussed opportunities for Egypt to benefit from the Green Climate Fund's (GCF) High Impact Programme for the Private Sector, a flagship initiative managed by the EBRD. The programme aims to help private-sector projects in developing countries reduce industrial emissions and accelerate the transition to a green economy through a mix of grants, concessional loans, and innovative financing instruments. The initiative aligns closely with Egypt's National Climate Change Strategy 2050 and its Nationally Determined Contributions (NDCs), while placing no direct financial burden on the state budget. It represents a key potential route to finance the decarbonisation of Egyptian factories and help them meet emerging global environmental standards. To advance these efforts, Al-Wazir directed the formation of a joint technical committee—including representatives from the Ministries of Industry and Transport—to coordinate directly with the Ministry of Planning and International Cooperation. This committee will oversee the implementation of priority projects, ensure alignment with international financing platforms, and enhance the readiness of Egypt's industrial sector for new environmental requirements. Al-Wazir also stressed the importance of coordinating with the Egyptian Ministry of Foreign Affairs and other national institutions to engage in voluntary carbon credit systems, supporting Egypt's shift to low-emission industry ahead of CBAM enforcement. He reaffirmed the government's commitment to helping factories transition to green production through partnerships with development partners and other ministries. For her part, Minister of Planning and Economic Development Rania Al-Mashat reviewed recent progress in Egypt's international partnerships supporting industrial development. She highlighted that the non-oil manufacturing sector has led GDP growth since the March 2024 economic reforms, posting growth rates of 7.1%, 17.7%, and 16.3% across the first three quarters of FY 2024/2025 and contributing 1.9% to GDP growth in Q3 alone. Al-Mashat emphasised the government's focus on strengthening the manufacturing sector to boost exports and expand tradable industries. The ministry is working closely with international development partners to secure technical support, grants, and concessional financing to reduce carbon emissions and accelerate industrial transformation. She noted the GSI programme, which provides approximately €271m (around EGP 16bn)—including EGP 1.2bn in grants—to promote pollution reduction, renewable energy use, and sustainable industrial practices. She also pointed to ongoing cooperation with the Green Climate Fund to access concessional finance for private-sector projects, reinforcing Egypt's role as a strategic green energy partner to the EU. Additionally, Al-Mashat highlighted Egypt's selection among seven countries to participate in the Climate Investment Funds' (CIF) Industrial Decarbonization Program, which offers nearly $1bn in concessional finance for the private industrial sector. Egypt is currently in discussions to determine the size of its share. Al-Mashat reaffirmed continued coordination with the Ministry of Industry to leverage international partnerships that empower private industry, cut carbon emissions, and boost export competitiveness—particularly in accessing European and global markets.
See - Sada Elbalad
16-07-2025
- Business
- See - Sada Elbalad
Egypt Inks Deal with Chinese Shipyard to Build Two New Bulk Cargo Ships, Advancing Maritime Fleet Modernisation
Ahmed Emam Egypt's Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, has witnessed the signing of a significant contract for the construction of two new bulk cargo ships between a state-owned Egyptian maritime transport company and a leading Chinese shipyard. According to TV BRICS, the agreement is a key step in Egypt's broader strategy, led by President Abdel Fattah Al-Sisi, to position the country as a regional hub for logistics, transportation, and transit trade. Central to this vision is revitalising the national commercial fleet to boost Egypt's presence in global maritime commerce. Minister Al-Wazir said that the new vessels will be constructed according to the latest international standards for environmental sustainability and technological innovation. Each ship will feature a fuel-efficient hull design, advanced emission-control systems, and modern navigation technologies, with a cargo capacity of 82,000 tonnes. The vessels are expected to be delivered in September and November 2028. The contract marks another milestone in Egypt's ongoing efforts to modernise its maritime sector. With these additions, Egypt will have introduced six new ships into its commercial fleet over the past three years, renewing more than half of its operational fleet, which currently consists of 18 vessels. Al-Wazir also revealed that the government aims to expand its commercial fleet to 36 ships by 2030, reflecting Egypt's determination to strengthen its maritime infrastructure and enhance its competitiveness in the international shipping industry. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid 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 Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle 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
