Latest news with #AymanKorra
Zawya
20-05-2025
- Business
- Zawya
Huhtamaki Egypt to invest in sustainable packaging plant in Sadat City
Egypt - Huhtamaki Egypt has secured the prestigious Golden License from the Egyptian Cabinet to establish a state-of-the-art molded fiber packaging facility in Sadat City, located within the CPC Industrial Zone of Menofeya. With a total investment of EGP 1.47bn, the project represents one of the Finnish packaging leader's most significant commitments in the region. Spanning approximately 22,000 square meters, the facility will be developed using recycled wastepaper and equipped with advanced molded fiber technology to produce eco-friendly packaging solutions such as egg cartons, fruit trays, and cup carriers. The plant is expected to begin operations in August 2026 and will create over 61 direct jobs, serving both domestic and international markets. This project marks a major milestone in the long-term strategic partnership between Huhtamaki Oyj and Ayman Korra, a key div in the project's structure and CEO of Korra for Energy & Investment Projects—one of Egypt's leading industrial firms. 'The awarding of the Golden License to this Huhtamaki initiative reflects the state's strong support for committed investors,' said Ayman Korra. 'It also affirms Korra's strategy of attracting global investment and localizing advanced technologies within the Egyptian market.' The Golden License, introduced by the Egyptian government to fast-track projects of national importance, provides a comprehensive approval framework for establishment, construction, operation, and licensing. It also offers a range of administrative and investment incentives to streamline project execution. Huhtamaki Egypt is now among fewer than 50 projects to have been granted the Golden License since the programme's inception in 2017—out of more than 300 applicants. This distinction underscores the strategic importance and transformative potential of the project. As Egypt strengthens its position as an investment hub, this development highlights the power of aligning global innovation with local vision—reinforcing Huhtamaki's role as a regional leader in sustainable packaging and supporting the broader national agenda for green industrial growth. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Daily News Egypt
19-05-2025
- Business
- Daily News Egypt
Huhtamaki Egypt to invest EGP 1.47bn in sustainable packaging plant in Sadat City
Huhtamaki Egypt has secured the prestigious Golden License from the Egyptian Cabinet to establish a state-of-the-art molded fiber packaging facility in Sadat City, located within the CPC Industrial Zone of Menofeya. With a total investment of EGP 1.47bn, the project represents one of the Finnish packaging leader's most significant commitments in the region. Spanning approximately 22,000 square meters, the facility will be developed using recycled wastepaper and equipped with advanced molded fiber technology to produce eco-friendly packaging solutions such as egg cartons, fruit trays, and cup carriers. The plant is expected to begin operations in August 2026 and will create over 61 direct jobs, serving both domestic and international markets. This project marks a major milestone in the long-term strategic partnership between Huhtamaki Oyj and Ayman Korra, a key figure in the project's structure and CEO of Korra for Energy & Investment Projects—one of Egypt's leading industrial firms. 'The awarding of the Golden License to this Huhtamaki initiative reflects the state's strong support for committed investors,' said Ayman Korra. 'It also affirms Korra's strategy of attracting global investment and localizing advanced technologies within the Egyptian market.' The Golden License, introduced by the Egyptian government to fast-track projects of national importance, provides a comprehensive approval framework for establishment, construction, operation, and licensing. It also offers a range of administrative and investment incentives to streamline project execution. Huhtamaki Egypt is now among fewer than 50 projects to have been granted the Golden License since the programme's inception in 2017—out of more than 300 applicants. This distinction underscores the strategic importance and transformative potential of the project. As Egypt strengthens its position as an investment hub, this development highlights the power of aligning global innovation with local vision—reinforcing Huhtamaki's role as a regional leader in sustainable packaging and supporting the broader national agenda for green industrial growth.
Zawya
15-05-2025
- Business
- Zawya
Huhtamaki Egypt secures golden license to establish the Middle East's largest sustainable packaging facility in partnership with Korra in Sadat City
Cairo – In a bold step that underscores growing investor confidence in Egypt's business climate, Huhtamaki Egypt has been granted the prestigious Golden License by the Egyptian Cabinet to build its new Molded Fiber packaging Plant using recycled wastepaper in Sadat City, located in the CPC Industrial Zone of Monufia Governorate. The project will be developed with a total investment of EGP 1.47 billion, marking one of the Finnish packaging giant's largest investments in the region. Spanning approximately 22,000 square meters, the facility represents a significant milestone in the longstanding strategic partnership between Huhtamaki Oyj and Eng. Ayman Korra, who plays an integral role in the project's corporate structure and serves as CEO of Korra for Energy & Investment Projects, one of Egypt's most prominent industrial entities. Set to commence operations in August 2026, the new facility will create over 61 direct jobs and incorporate state-of-the-art molded fiber technology to produce sustainable, eco-friendly packaging solutions such as egg cartons, fruit trays, and cup carriers made from recycled paper fibers, targeting both local and international markets. Commenting on the milestone, Eng. Ayman Korra, CEO of Korra for Energy & Investment Projects, said: 'We are proud of our enduring partnership with Huhtamaki that spans for more than two decades. Together, we have developed cutting-edge industrial ventures that add tangible value to Egypt's economy. The awarding of the Golden License to this new Huhtamaki project reflects the state's strong support for committed investors and affirms Korra's successful strategy of attracting global investments and localizing advanced technologies in the Egyptian market.' This major investment stands as a vote of confidence in Egypt's investment landscape—an environment increasingly seen as conducive and competitive, particularly in light of streamlined government policies that support strategic industrial projects. The long-term collaboration between Huhtamaki and Eng. Ayman Korra is a testament to the power of synergizing local vision with global expertise, positioning the new factory as a pivotal hub for advancing Huhtamaki's leadership in sustainable packaging solutions across the Middle East. The Golden License is a key instrument introduced by the Egyptian government to accelerate nationally significant projects. It provides a comprehensive approval framework that covers project establishment, construction, operations, and licensing—along with a host of administrative and investment incentives that facilitate swift execution. By receiving this exceptional license, Huhtamaki Egypt joins a distinguished list of fewer than 50 projects that have earned the Golden License out of more than 300 applications submitted since the initiative's launch in 2017—a clear indicator of the project's strategic importance and high potential. Notably, Eng. Ayman Korra is recognized as one of Egypt's sustainability pioneers. Under his leadership, Korra for Energy & Investment Projects places sustainability at the heart of its operational and social responsibility strategies. Through innovative energy systems and solutions, Korra strives to balance operational efficiency with environmental preservation, reducing carbon emissions and conserving natural resources. The company is consistently engaged in developing projects that support the shift towards clean energy, fully aligned with Egypt's and the region's sustainable development goals—driven by a shared commitment to building a greener, more resilient future for the coming generations.
Zawya
01-05-2025
- Business
- Zawya
Egypt's Korra Energi to boost capital through IPO: Chairman
Egypt's energy solutions firm Korra Energi aims to use nearly 70% of the proceeds from its upcoming initial public offering (IPO) on the Egyptian Stock Exchange this year to boost capital and fund expansions, the company's Chairman Ayman Korra told Zawya. The company had planned to offer 20% of its shares in the first half of 2025 and the IPO was provisionally listed on the Egyptian bourse for issuance last December. However, Korra now expects the process to be delayed until the beginning of the second half of this year to complete the necessary procedures. '70% (of the IPO's proceeds) will go towards increasing the capital, including financing expansions. The remaining portion will likely go to the shareholders,' Korra said. The chairman said he expects private placement to account for 80% of the offered shares, while 20% to be in public offering. Korra Energi has selected Professionals for Investment Banking company as the advisor for the planned IPO. Korra said the company plans to expand locally and internationally and is currently working to open branches in Saudi Arabia and Iraq this year. This will be followed by a study of available projects, he added. Founded in 1997, Korra Energi specializes in providing energy efficiency solutions and contracting services. Its issued capital is around EGP450 million ($8.8 million).
Zawya
27-01-2025
- Business
- Zawya
Madinet Masr Inks an MoU with Korra Energi
Abdallah Sallam: The robust economic performance motivates us to strengthen and diversify our strategic partnerships with leading entities to add value to our projects and customers Cairo – Madinet Masr (EGX code: one of Egypt's leading real estate developers, has announced the signing a Memorandum of Understanding (MoU) with Korra For Energy & Investment Projects, a leader in building and constructions. This partnership aims to expedite construction at Taj City, the company's flagship mixed-use project in New Cairo, with investments exceeding EGP 480 million. The collaboration underscores Madinet Masr's robust economic performance and its unwavering commitment to adhering to delivery timelines as per the announced schedules and timeframes, further solidifying its leadership in the Egyptian real estate market. The MoU was signed by Eng. Abdallah Sallam, President and CEO of Madinet Masr, Eng. Ayman Korra, President & CEO of Korra For Energy & Investment Projects and Vice President Heba Korra, in the presence of senior executives from both companies. Under this agreement, Korra Energi will execute the construction of a showroom in Tajed at Taj City. The construction is scheduled for completion in 2025, adhering to world-class standards to ensure maximum luxury, comfort, and value for customers. Commenting on the partnership, Eng. Abdallah Sallam, President and CEO of Madinet Masr said: "At Madinet Masr, we firmly believe that strategic partnerships are pivotal to driving innovation and achieving sustained economic growth. By forging strong partnerships with trusted and leading entities, we create tangible value for our projects and customers. These partnerships empower us to deliver cutting-edge, sustainable real estate projects that meet the ever-evolving needs of our clients, while reinforcing our leadership in Egypt's real estate market. Our vision aligns closely with the country's urban development goals and Egypt Vision 2030, ensuring that we contribute meaningfully to the nation's progress." Eng. Ayman Korra President & CEO of Korra For Energy & Investment Projects stated that: "We are proud of our partnership with Madinet Masr, one of the leading companies in the Egyptian market. Together, we share a vision of building a sustainable future, leveraging the latest global building and construction technologies while adhering to the highest international standards.' Eng. Mohamed Lashin, Senior Vice President of Projects at Madinet Masr, added: "We're excited to partner with Korra For Energy & Investment Projects to accelerate the pace of construction in Taj City, one of our flagship projects. This collaboration reflects our commitment to building sustainable communities that prioritize the happiness and well-being for residents. By combining our expertise in real estate development with Korra's capabilities, we're confident that this partnership will ensure the project is completed on time and according to the highest standards.' From her side, Heba Korra, Vice President of Korra For Energy & Investment Projects, added that: 'We are delighted to be part of this partnership which underscores our commitment to delivering innovative construction solutions that contribute to the development of Egypt's real estate sector. We believe that Taj City will be a game-changer in Egypt's real estate landscape, not only in terms of quality and design but also in offering an exceptional residential experience that caters to customer needs and solidifies the position of the Egyptian real estate market." Spanning 3.5 million square meters, Taj City is a flagship project and a testament to Madinet Masr's 65-year legacy of leadership and excellence in the Egyptian market. With its strategic location in New Cairo on the ring road, Taj City is within proximity of Cairo International Airport, and minutes away from East Cairo, Downtown, and Heliopolis. The project seamlessly blends attractive residential complex designs with best-in-class facilities, innovative shopping concepts, a modern lifestyle, and a spectacular green landscape, that reflects the warmth, values, and rich history of Egyptian culture. - Ends - About Madinet Masr Madinet Masr, one of Egypt's leading urban community developers, was established in 1959. Headquartered in Cairo and listed on the Egyptian Exchange in 1996 (EGX), Madinet Masr operates under a robust corporate governance structure. It is committed to delivering exceptional value to all its stakeholders. Rebranded from Madinet Nasr to Madinet Masr in 2023, the company has become one of the most innovative real estate companies in Egypt, capitalizing on a long and successful track record of delivering distinguished and multi-functional developments that drive growth in Egypt by developing sustainable communities. Madinet Masr has become a prominent community developer and urban planner in Egypt after developing Nasr City, the largest neighborhood in Greater Cairo with a population of over three million people. Since then, It has actively taken on large-scale projects to transform sizeable land areas into contemporary, integrated communities. Today, Madinet Masr owns a land portfolio of 12.6 million sqm, with two renowned mega-developments, Taj City and Sarai, in East Cairo. Taj City is a 3.6 million sqm mixed-use development positioned as a premier destination, and Sarai is a 5.5 million sqm mixed-use development strategically located in front of Egypt's New Administrative Capital. Madinet Masr launched Zahw in 2023, its first expansion project outside Cairo Governorate. Zahw is a 104-acre mixed-use development strategically positioned west of Assiut Governorate beside Assiut's airport and 15 minutes from its center. Zahw compliments the contemporary real estate products in Upper Egypt. Some of the key strategic partnerships signed include the development of a project in New Heliopolis City, covering an area of 491 feddans, and the development of an integrated residential urban project in the fourth phase in Mostakbal City, covering an area of 238 feddans (approximately 1 million square meters). In addition to signing a contract to develop 42 acres in New Heliopolis City, through a partnership with Zahraa Maadi Investment and Development (ZMID). About Korra Energi With over 25 years of experience, Korra Energi is a leading Egyptian provider of energy efficiency solutions and construction services. With our team of over 3000 we deliver high-quality, sustainable projects that enhance energy efficiency and reduce carbon emissions. Our services encompass sustainable green energy solutions, contracting services with MEP proficiency, HVAC & PG systems supply, and comprehensive aftersales and facility management support. Additionally, as a Utility Provider, we are authorized to act as an independent power provider where we are licensed to generate, distribute and sell electricity directly to consumers Korra Energi is classified as a first-class contractor for general works, finishes, and electromechanical works by the Egyptian Federation For Construction & Building Contractors, reflecting its commitment to quality and professionalism across its over 350 projects. Among the most recent projects are: the Fustat Hills project, the renovation of Sheraton Cairo Hotel – Nefertiti Tower, and the Waste Heat Recovery Project at a cement factory.
