Latest news with #GTEZ
Egypt Independent
12-08-2025
- Business
- Egypt Independent
PM: Gov't keen on following up on GTEZ development efforts
Prime Minister Mostafa Madbouly on Monday, August 11th, 2025, affirmed the government's keenness to follow up on the role of the General Authority for the Golden Triangle Economic Zone (GTEZ) in developing this promising area. The premier said that the government attaches great importance to the development of the golden triangle zone, in light of its strategic potential for implementing diverse projects that support Egypt's sustainable development plans. Madbouly made the remarks during a meeting with GTEZ Chairman Mohamed Abadi at the government headquarters in New Alamein City in Egypt's North Coast to review a number of files related to the authority's activities. During the meeting, Abady reviewed projects carried out by the authority throughout the recent months. He highlighted structural updates of the GTEZ, including the reformation of the new board of directors for the Golden Triangle and its affiliate committees, the establishment of a dedicated commercial registry office for the authority to register companies, the renovation of the authority's headquarters in Safaga, along with finalizing several regulations, procedures and commercial agreement templates. As regards GTEZ business development and promotion efforts, Abady said that the authority had reached an agreement with one of the largest local and international industrial developers to establish an industrial zone for phosphate fertilizer production. The authority has also engaged with major regional and international developers in targeted sectors to establish and develop several specialized zones, alongside attracting domestic and foreign developers and investors in industrial, agricultural, and logistics sectors, Abady added. He shed light on the authority's development plan for the Golden Triangle Economic Zone for 2025–2026, noting that the goal this year is to achieve financial sustainability and meet objectives without imposing any financial burden on the state. The Golden Triangle is situated between the Nile River and the Red Sea, encompassing parts of the Red Sea and Qena governorates. The triangle is defined by the cities of Qena, Safaga, and Quseir. It is a significant national project under Egypt's Vision 2030, focused on developing an integrated economic zone with a focus on mining, agriculture, and tourism. The area is rich in mineral resources, including phosphates, iron, and copper, and the project aims to attract investment and create jobs.
Zawya
12-08-2025
- Business
- Zawya
Egypt's Elsewedy Electric partners with GTEZ to develop new industrial hub in Golden Triangle
Egypt - The Golden Triangle Economic Zone (GTEZ) has signed a memorandum of understanding (MoU) with Elsewedy Electric, a leading energy solutions provider and industrial developer, to create a fully integrated, sustainable industrial and logistics hub in the Safaga Industrial Zone. This new development, part of Egypt's Golden Triangle Economic Zone in the Red Sea Governorate, aims to boost industrial growth and regional development in Upper Egypt. The MoU was signed by Ahmed El Sewedy, CEO and Managing Director of Elsewedy Electric, and Mohamed Abady, Chairperson of GTEZ. Under the agreement, the two entities will establish a joint-stock company to oversee the development of the industrial zone, which will meet international standards and host a range of industries, including mining, engineering, manufacturing, chemicals, food production, and more. The new industrial hub is expected to attract both local and foreign investments, create thousands of jobs, and significantly enhance Upper Egypt's contribution to Egypt's national industrial output. The GTEZ has granted the project company the rights to manage all stages of the project, from construction to operation, ensuring the use of advanced technologies and sustainable practices. In a related move earlier this year, TAQA Arabia signed a protocol with GTEZ to enhance the infrastructure of the industrial zone. This includes establishing energy networks, both conventional and renewable, as well as natural gas distribution, water services for industrial and agricultural needs, and advanced drainage systems. Mohamed Abady described the project as a strategic national initiative designed to optimize Egypt's resources, promote sustainable development, and prioritize investment in human capital. 'The Safaga Industrial Zone will serve as a modern industrial and logistics hub, strategically located near Safaga Port. Our collaboration with Elsewedy Electric is focused on providing state-of-the-art infrastructure, improving supply chain flexibility, and enhancing logistics capabilities to support exports to Africa, Europe, and the Middle East,' Abady added. For his part, Ahmed El Sewedy highlighted that this project is a natural extension of Elsewedy Electric's commitment to developing cutting-edge industrial infrastructure that aligns with Egypt's economic vision. 'Our goal is to strengthen Egypt's supply chains, increase exports, and foster balanced regional development. This partnership will create a smart, investor-friendly industrial zone that generates sustainable jobs for future generations,' El Sewedy stated. Since its establishment in 2017 by a presidential decree, the Golden Triangle Economic Zone has been a critical project under Egypt's Vision 2030, designed to drive economic growth in southern Upper Egypt through a public-private partnership (PPP) model. The new partnership with Elsewedy Electric will be a key driver in realizing this vision, making the Golden Triangle a key focal point for industrial advancement in the region.
Daily News Egypt
11-08-2025
- Business
- Daily News Egypt
Elsewedy Electric partners with GTEZ to develop new industrial hub in Golden Triangle
The Golden Triangle Economic Zone (GTEZ) has signed a memorandum of understanding (MoU) with Elsewedy Electric, a leading energy solutions provider and industrial developer, to create a fully integrated, sustainable industrial and logistics hub in the Safaga Industrial Zone. This new development, part of Egypt's Golden Triangle Economic Zone in the Red Sea Governorate, aims to boost industrial growth and regional development in Upper Egypt. The MoU was signed by Ahmed El Sewedy, CEO and Managing Director of Elsewedy Electric, and Mohamed Abady, Chairperson of GTEZ. Under the agreement, the two entities will establish a joint-stock company to oversee the development of the industrial zone, which will meet international standards and host a range of industries, including mining, engineering, manufacturing, chemicals, food production, and more. The new industrial hub is expected to attract both local and foreign investments, create thousands of jobs, and significantly enhance Upper Egypt's contribution to Egypt's national industrial output. The GTEZ has granted the project company the rights to manage all stages of the project, from construction to operation, ensuring the use of advanced technologies and sustainable practices. In a related move earlier this year, TAQA Arabia signed a protocol with GTEZ to enhance the infrastructure of the industrial zone. This includes establishing energy networks, both conventional and renewable, as well as natural gas distribution, water services for industrial and agricultural needs, and advanced drainage systems. Mohamed Abady described the project as a strategic national initiative designed to optimize Egypt's resources, promote sustainable development, and prioritize investment in human capital. 'The Safaga Industrial Zone will serve as a modern industrial and logistics hub, strategically located near Safaga Port. Our collaboration with Elsewedy Electric is focused on providing state-of-the-art infrastructure, improving supply chain flexibility, and enhancing logistics capabilities to support exports to Africa, Europe, and the Middle East,' Abady added. For his part, Ahmed El Sewedy highlighted that this project is a natural extension of Elsewedy Electric's commitment to developing cutting-edge industrial infrastructure that aligns with Egypt's economic vision. 'Our goal is to strengthen Egypt's supply chains, increase exports, and foster balanced regional development. This partnership will create a smart, investor-friendly industrial zone that generates sustainable jobs for future generations,' El Sewedy stated. Since its establishment in 2017 by a presidential decree, the Golden Triangle Economic Zone has been a critical project under Egypt's Vision 2030, designed to drive economic growth in southern Upper Egypt through a public-private partnership (PPP) model. The new partnership with Elsewedy Electric will be a key driver in realizing this vision, making the Golden Triangle a key focal point for industrial advancement in the region.
Zawya
27-01-2025
- Business
- Zawya
Egypt: TAQA Arabia, GTEZ ink cooperation protocol for Safaga City industrial zone utilities
TAQA Arabia has signed a cooperation protocol with the Golden Triangle Economic Zone Authority (GTEZ) for the provision of essential utilities to investors in the 9.1 industrial zone in Safaga City, located within Egypt's golden triangle, as per a disclosure. The collaboration aligns with Egypt's strategy to drive development and attract both local and international investments, with a focus on sustainable development and value-added projects. Under the agreement, the two parties will work together to implement the necessary infrastructure for the industrial zone, which includes establishing electricity networks using both conventional and renewable energy sources, constructing natural gas distribution networks via the national grid or compressed natural gas solutions, and providing water for industrial and agricultural use. Additionally, they will implement sewage and industrial networks, as well as facilities for distributing petroleum products and waste management to support long-term sustainability. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
