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Egypt Today
03-05-2025
- Business
- Egypt Today
Labor Day ceremony: Sisi honors group of Egyptian workers for being inspiring models
Egyptian President Abdel Fattah El-Sisi while attending Labor Day ceremony in Suez CAIRO - 3 May 2025: President Abdel Fattah El Sisi honored a group of Egyptian workers on Saturday for their diligent and sincere efforts, as well as some distinguished and inspiring models who have enriched the labor union life in Egypt. This took place on Saturday during the Labor Day celebration in Suez Governorate. During the ceremony, President Sisi reviewed via video conference a presentation of new successful private sector factories during Labor Day celebrations in Suez. Among them was Arco Steel, described by its managing director as the only specialized steel producer in the Middle East. The company has added two production lines for wires used in railway sleeper manufacturing, with a current capacity of 25,000 tons annually. The project covers 20,000 square meters and involves investments of EGP 500 million. It plans to add 28 more lines on 165,000 square meters with EGP 6 billion in funding. This expansion is expected to create 1,500 jobs and raise annual capacity to 400,000 tons, enabling full local production of railway sleeper wires. The company is also building a cold-rolled and galvanized steel facility with a 350,000-ton capacity to serve the automotive and appliance industries and reduce import dependence. During the ceremony marking Labor Day, Dr. Saied Kamel, Chairman and CEO of Utopia Pharmaceuticals, presented the company's new plant in 10th of Ramadan City. He said that the plant was built on 18,000 square meters with investments totaling EGP 1.35 billion, adding that it also operates six production lines, with an annual capacity of 120 million packages, and employs 1,100 workers directly and 300 indirectly. Kamel clarified that the plant produces 52 medicines, including 19 that substitute imported versions using 70–90% local components. Sales last year reached 2 million packages, saving the country about $16 million, he mentioned. For his part, Ahmed Dawy, CFO of Beko Egypt, said that the company's new appliance complex was built with Turkish investments worth $110 million over 114,000 square meters. It will produce 1.5 million refrigerators, ovens, dishwashers, and freezers annually, with 65% of output intended for export, he added. The plant supports about 2,000 indirect jobs and targets $250 million in annual exports, he stated. President Sisi also inaugurated the second phase of the Suez Steel Company. This came as part of the Labor Day celebration held on Saturday at the Suez Steel Company in Suez, in north-eastern Egypt, Presidential Spokesman Mohamed el Shennawy said.
See - Sada Elbalad
03-05-2025
- Business
- See - Sada Elbalad
President Sisi Reviews Private Sector Factory Projects via Video Conference
H-Tayea President Abdel Fattah El-Sisi viewed a presentation via video conference showcasing several successful new factories from the private sector during Labor Day celebrations in Suez. Among them was Arco Steel, described by its managing director as the only specialized steel producer of its kind in the Middle East. The company has added two production lines for wires used in railway sleeper manufacturing, with a current capacity of 25,000 tons annually. The project covers 20,000 square meters and involved investments of EGP 500 million. The company plans to expand with 28 additional lines on 165,000 square meters, investing EGP 6 billion and creating 1,500 jobs next year. Once complete, the factory will produce 400,000 tons of prestressed and stranded wires annually, enabling full local production of railway sleepers. The company is also working on a cold-rolled and galvanized steel complex with a capacity of 350,000 tons per year to support the automotive and appliance sectors and reduce import dependence. Dr. George Magdy, Director of Sales and Marketing at PharmaPlast, presented details of the company's new medical supplies factory in Borg El Arab during the Labor Day celebration attended virtually by President Abdel Fattah El-Sisi. He said the factory is the first in Egypt, Africa, and the Middle East dedicated to producing advanced dressings for bedsores, diabetic foot ulcers, and chronic wounds. The plant was built with EGP 400 million in investments on a 7,500 square meter site and includes eight production lines. Thirty-two new wound care products have been registered with Egypt's Drug Authority at international standards. The new facility joins a group of 11 factories operating in the Amreya Free Zone, contributing to reduced import costs for Egypt. Currently, 70% of production is exported to 85 countries, generating $60 million in annual exports, with expectations to reach $80 million after expanding into U.S. and African markets. 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 Egypt confirms denial of airspace access to US B-52 bombers Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
