Latest news with #ArabOrganizationForIndustrialization
Zawya
24-06-2025
- Business
- Zawya
Egypt explores investment opportunities to turn palm waste into fuel and industrial wood in New Valley
Egypt's Minister of Environment, Yasmine Fouad, held talks on Monday with New Valley Governor Mohamed El-Zamlout to explore investment opportunities for managing palm waste in the southern governorate, according to a statement by the Ministry of Environment. New Valley, located in southwestern Egypt, is home to nearly five million palm trees, making it one of the country's largest producers of palm frond waste. Fouad said the Environment Ministry is working to encourage environmental and climate investment by transforming waste into economic resources. She added that the ministry has launched a dedicated unit to connect investors and entrepreneurs in implementing green projects. The minister also highlighted the potential use of shredded palm fronds as alternative fuel for cement factories, suggesting that companies specializing in alternative fuels could be directed to invest in the governorate. For his part, El-Zamlout noted that the governorate has signed a cooperation agreement with the Arab Organization for Industrialization and European partners to establish a factory that produces MDF boards from palm waste, with an estimated investment of €70 million. Both parties agreed to organize a series of meetings with investors to discuss opportunities to utilize palm waste rather than resorting to burning or unsafe disposal practices, in a move aimed at reducing harmful emissions.
Zawya
16-06-2025
- Automotive
- Zawya
President El-Sisi Meets Chairman of Arab Organization for Industrialization (AOI) Board of Directors
Today, President Abdel Fattah El-Sisi met with Chairman of the Board of Directors of the Arab Organization for Industrialization (AOI) Major General Mokhtar Abdel Latif. Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the President was briefed on the activities and projects undertaken by factories and companies affiliated with the Arab Organization for Industrialization across various fields. Major General Abdel Latif noted that the AOI operates according to a comprehensive strategy aimed at deepening local manufacturing, increasing export rates, and enhancing the industrial and technological capabilities of its factories. This is in addition to cooperating with the private sector to establish joint projects, leveraging the AOI's advanced industrial capabilities. President El-Sisi affirmed the AOI's significant role in various sectors, particularly with regard to the improvement of local manufacturing ratios, the localization of industry, and the increase of exports, which contributes to reducing the import bill and providing foreign currency, thereby supporting the national economy. President El-Sisi was also updated on the existing frameworks of cooperation between the AOI and several major international companies operating in the automotive industry. The President inspected a number of "Citroën C4X" models, which are locally manufactured with a 45% component ratio in the factories of the Arab Organization for Industrialization, in partnership with the Arab American Vehicles Company (AAV) and the French "Stellantis" Group. AOI Chairman, Major General Abdel Latif, said planning for the production of this model began in August 2023, adding that technical and logistical preparations were undertaken, leading to the production of initial prototypes in March 2025. He noted that approximately 7,000 cars are scheduled for annual production over four years, totaling 28,000 vehicles. Furthermore, preparations are underway for the production of a new car in cooperation with the "Stellantis" Group, with production set to begin in late 2026. This new model will see a total of 240,000 cars manufactured exclusively in AOI factories, and will not be manufactured in any of the Group's other global facilities. President El-Sisi gave directives to further strengthen cooperation with private sector companies, both locally and internationally. This is in alignment with the state's strategy aimed at localizing the automotive industry, increasing the percentage of local components, and maximizing exports of products manufactured in Egypt. Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.
