Latest news with #MohamedElShimy
Zawya
29-07-2025
- Business
- Zawya
Egypt's minister pushes for stronger returns, partnerships in real estate, construction sectors
Egypt - Mohamed El-Shimy, Minister of the Public Enterprises Sector, held a high-level meeting on Monday with the CEOs of companies affiliated with the Holding Company for Construction and Development. The session, held at the headquarters of the Egyptian Contracting Company (Mokhtar Ibrahim), focused on evaluating project progress, performance metrics, and future plans, including upcoming contracts. Also attending were Mohamed Mostafa, Executive Managing Director of the Holding Company, along with senior officials from the ministry. El-Shimy stressed that the construction and real estate sectors play a pivotal role in Egypt's broader urban development strategy. He underscored the importance of delivering projects on time and to a high standard, while urging affiliated companies to maximise the return on state-owned real estate assets. He also called for the expansion of economically viable projects and stronger partnerships with the private sector. The minister reviewed the contributions of affiliated companies to national development initiatives across multiple governorates. These include infrastructure and utility projects under the 'Decent Life' presidential initiative—such as wastewater treatment facilities, water purification plants, bridges, schools—as well as residential developments in the New Administrative Capital. Additional projects include electrical work in the New Delta, North Coast, Red Sea, Beni Suef, Giza, and Qena, as well as shoreline protection in Alexandria and Marsa Matrouh. A key part of the discussion focused on the economic utilisation of real estate assets and increasing private sector investment. Updates were provided on the New Heliopolis development, including enhancements to infrastructure, landscaping, pedestrian walkways, internal roads, and gates, along with a planned mixed-use compound combining residential, commercial, and administrative spaces. El-Shimy highlighted the successful restoration of the historic Granada Palace in Heliopolis, now reopened as a cultural and artistic venue. This was presented as a model for integrating heritage preservation with strategic investment. The meeting also touched on the rebranding of the Heliopolis Company for Housing and Development, signalling a strategic shift toward institutional development, improved marketing, and stronger customer trust. Other real estate projects discussed included Areba in the North Coast, Raqia in El-Ibrahimia, Grand View Smouha 2, Maadi View El Shorouk, Maadi Valley, Sea Bell in New Mansoura, and development plans in Hadayek Al-Asimah, where a comprehensive urban community is being designed. Updates on international ventures and recent contracts were also shared. Additionally, affiliated construction companies' contributions to broader ministry initiatives were reviewed. These include the national textile industry revitalisation project, the rehabilitation of El Nasr Automotive, upgrades to pharmaceutical companies, and the Jaz Asila resort in Marsa Alam. El-Shimy urged companies to focus on integrated real estate developments, improve marketing strategies, and take full advantage of high-value land assets to create distinctive and competitive projects. He also emphasised the importance of expanding into regional and global markets, leveraging the technical expertise and accumulated experience of affiliated firms to enhance competitiveness and diversify revenue streams. Customer satisfaction was highlighted as a core success metric, with El-Shimy calling for ongoing improvements in customer service, project quality, and operational efficiency. He pointed to stronger financial performance and rising real estate sales as signs of positive momentum. Concluding the meeting, the minister praised the synergy among subsidiaries under the Holding Company for Construction and Development and their collaboration with other entities under the ministry. He affirmed that such integration is essential for accelerating project execution, maximising returns on state investments, and advancing comprehensive national development goals. © 2025 Daily News Egypt. Provided by SyndiGate Media Inc. (
Zawya
14-07-2025
- Business
- Zawya
New expansion projects, public-private partnerships to modernize, localise industry: Egypt's minister
Egypt - Mohamed El-Shimy, Minister of Public Enterprises Sector, announced that the ministry is implementing a comprehensive plan to modernise and develop its affiliated companies through ambitious expansion projects. These initiatives aim to introduce advanced technologies, promote local manufacturing, and reduce reliance on imports, thereby enhancing value-added production and improving the competitiveness of national products. He underscored the importance of adhering to project timelines with the highest standards of quality and efficiency, alongside efforts to strengthen marketing strategies, open new markets, invest in human capital, motivate workers, ensure environmental sustainability, and adopt best industrial practices. El-Shimy made these remarks during the ordinary and extraordinary general assembly meetings of the Chemical Industries Holding Company, held to approve the draft budget for the 2025/2026 fiscal year and review ongoing development and investment plans. The meetings were attended by members of the general assembly, representatives from the Central Auditing Organisation, and the company's board of directors, chaired by Saad Abu El-Maaty. The minister highlighted the pivotal role of the Chemical Industries Holding Company in supporting the national economy, citing its strong portfolio of subsidiaries, established brands, and diverse production capacities. He stressed the need to optimise the use of production assets, maximise returns, and expand strategic partnerships with the private sector in line with the State Ownership Policy Document. Such partnerships, he explained, will help unlock new opportunities for industrial growth, technology transfer, and local production. El-Shimy also reaffirmed the importance of complying with standards in occupational safety and health, environmental protection, preventive and routine maintenance, quality control, and sound governance. He noted that operational efficiency and sustainability are the main pillars underpinning the new budget. For his part, Emad El-Din Mostafa, Executive Managing Director of the Chemical Industries Holding Company, presented the draft budget, which targets revenues of EGP 22.4bn, net profits of EGP 7.1bn, and exports worth EGP 10.3bn. He emphasised that the budget aligns with the Ministry of Public Enterprises Sector's strategy, derived from Egypt's Vision 2030, the government's programme of action, and the State Ownership Policy Document. The focus remains on maximising economic returns from assets, improving operational efficiency, increasing value-added production, and expanding into export markets. The board's report detailed several major investment and expansion projects. In the fertiliser sector, these include building two new plants at KIMA for the production of nitric acid and ammonium nitrate, as well as restarting the ferrosilicon plant at KIMA, which had been idle for five years and has now been refurbished and brought back into operation. Additional projects include reviving Delta Fertilisers through urgent repairs and restarting the ammonia and urea plants; refurbishing the ammonia compressor at El Nasr Fertilisers to double production capacity; and developing a green ammonia production project in partnership with the private sector. Other ventures include the production of chlorine granules at Misr Chemical Industries, manufacturing pre-stressed concrete wire (PC Wire), and introducing new products by SIGOART and El Yayyat, such as railway sleepers and metro brake pads. The Naropeen conveyor belt factory will also undergo modernisation. These projects aim to achieve a qualitative leap in the industrial performance of the affiliated companies, increase their contribution to the national economy, support state efforts to substitute imports and boost exports, broaden the local production base, and promote sustainable industrial development. During the extraordinary general assembly, it was also agreed to raise the company's authorised capital from EGP 10bn to EGP 18bn and increase the issued and paid-up capital from EGP 9bn to EGP 17bn. This capital increase is intended to strengthen the company's financial position and support its development and investment plans.
Zawya
09-07-2025
- Business
- Zawya
Egypt's electricity, public enterprises ministers discuss expanding renewables in energy-intensive industries
Egypt - Minister of Electricity and Renewable Energy Mahmoud Esmat held talks with Minister of Public Enterprises Sector Mohamed El-Shimy to enhance cooperation on integrating renewable energy and implementing energy efficiency standards across Egypt's power-intensive industries. The meeting comes within the framework of Egypt's updated national energy strategy and the Ministry of Electricity's action plan, which aims to promote clean energy development, reduce reliance on conventional fuels, cut carbon emissions, and strengthen energy security—all while maximising the economic and environmental benefits of renewables. The ministers also reviewed progress on efforts to register and optimise the management of state-owned assets in line with the protocol signed between the Egyptian Electricity Holding Company and the National Asset Management and Investment Company, operating under the Ministry of Public Enterprises. A key item on the agenda was the planned solar power project to supply electricity to the aluminum complex in Nagaa Hammadi, which falls under the jurisdiction of the Ministry of Public Enterprises. The project is part of a broader push to decarbonise industrial operations. Discussions also covered the application of energy efficiency standards in several energy-intensive factories, expanding the local production of electrical equipment, and improving product quality. These measures are intended to advance Egypt's sustainable development goals, enhance industrial performance, and deepen collaboration between the two ministries in the renewable energy sector. Both ministers stressed the need to accelerate the adoption of clean energy solutions to improve operational efficiency in factories and raise energy performance. This effort supports Egypt's goal of raising the share of renewables in its electricity mix to 42% by 2030 and 65% by 2040. The meeting also addressed broader aspects of Egypt's energy transition strategy, including diversifying energy sources and optimising existing infrastructure to meet the demands of industrial growth while ensuring energy efficiency. Minister Esmat affirmed that expanding renewable energy use and implementing energy efficiency measures across all sectors remains a top priority in the ministry's current agenda. He underscored the crucial role of the private sector in executing the energy transition, particularly through bilateral agreements between private entities (Private-to-Private projects) aimed at scaling up clean energy deployment. Esmat further highlighted ongoing national efforts to localise modern technologies, including the domestic manufacture of electrical equipment and energy storage batteries. He pointed to several successful models that have already demonstrated tangible improvements in industrial energy efficiency and consumption reduction. Minister El-Shimy reiterated that improving energy efficiency is a strategic priority for the Ministry of Public Enterprises—not just as an environmental or economic imperative, but as a vital step toward enhancing the production capacity and global competitiveness of state-affiliated companies. He outlined the ministry's integrated plan to reduce operational costs and limit dependence on conventional energy by integrating renewable systems and modern technologies across affiliated factories. This aligns with Egypt's broader push toward a green economy, environmental sustainability, and improved resource management. El-Shimy also stressed the ministry's commitment to fostering strong partnerships with the private sector in renewable energy, attracting fresh investment to accelerate industrial decarbonisation and maximise the efficient use of national resources. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Zawya
25-06-2025
- Business
- Zawya
Egypt committed to strengthening partnerships with African nations
Egypt - Mohamed El-Shimy, Minister of the Public Enterprises Sector, held a series of high-level bilateral meetings on the sidelines of the 17th US-Africa Business Summit, currently taking place in Luanda, Angola, from 22 to 25 June. El-Shimy is participating as Egypt's official representative, accompanied by Nevine El-Husseiny, Egypt's Ambassador to Angola, as part of Cairo's ongoing efforts to deepen economic cooperation with African countries. During his meeting with Esperança da Costa, Vice President of Angola, both sides reaffirmed the strength of historic ties between Egypt and Angola and discussed avenues for expanding cooperation in key priority sectors. The meeting also highlighted the significance of the summit as a forum for dialogue between governments and the private sector, particularly as Angola holds the presidency of the African Union this year and celebrates 50 years of independence. El-Shimy also met with several African ministers and senior officials attending the summit, including Rui de Oliveira, Angola's Minister of Industry and Trade; Isaac Francisco, Minister of Agriculture; Sílvia Paula, Minister of Health; and Armando Manuel, Chairperson of Angola's Sovereign Wealth Fund. Other key meetings included discussions with Julien Paluku, Minister of Trade of the Democratic Republic of the Congo; Karim Zaidan, Morocco's Minister of Investment; and Mohamed Arkab, Algeria's Minister of Energy. The talks focused on boosting cooperation between Egypt and these countries in various fields including investment, joint industrial ventures, and trade exchange—contributing to deeper regional economic integration and advancing sustainable development objectives. El-Shimy stressed that Egypt, under the leadership of President Abdel Fattah El-Sisi, attaches great importance to enhancing partnerships with African nations on the basis of mutual interests and regional unity. He noted that the Ministry of Public Enterprises Sector is working actively to expand collaboration with African counterparts, especially in strategic productive sectors. He added that these engagements align with Egypt's broader strategy to open new markets for Egyptian companies across the continent, facilitate the transfer of industrial and technological expertise, and foster joint ventures with both public and private sector partners in African states. El-Shimy concluded by highlighting the wide-ranging opportunities available for cooperation across multiple sectors and reiterated the importance of the summit as a key platform for direct interaction between government leaders and private sector stakeholders across Africa. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Zawya
28-05-2025
- Automotive
- Zawya
Egypt's PM orders revival of El Nasr Automotive, launch of globally rated bus production initiative
Egypt - Prime Minister Mostafa Madbouly held a meeting on Tuesday with Minister of Public Enterprises Sector Mohamed El-Shimy to review the latest developments across the ministry's portfolio, including efforts to revitalize strategic industries and expand cooperation with the private sector. At the beginning of the meeting, Madbouly reaffirmed the state's commitment to improving the performance and governance of public sector companies, enhancing their competitiveness, and maximizing the returns on state-owned assets. These priorities, he said, are aligned with Egypt's Vision 2030 and its goals for sustainable economic development. The Prime Minister specifically directed the re-launch of El Nasr Automotive, one of Egypt's historically significant industrial brands, as well as the launch of a new bus manufacturing initiative that meets international quality standards. These projects are part of a broader strategy to localize transportation manufacturing, attract investment, and boost exports. Madbouly also emphasized the importance of leveraging private-sector partnerships to improve operational efficiency and generate higher returns across state-owned enterprises. He called for offering a greater number of projects to private investment, allowing for more effective management while preserving state interests. Minister El-Shimy confirmed that the ministry's current strategy is grounded in comprehensive reform and modernization efforts to enhance the sustainability and economic contribution of affiliated companies. He noted that the ministry oversees six holding companies, which collectively manage 63 subsidiaries employing more than 100,000 workers. Additionally, the ministry holds equity in 106 joint-stock companies. Outlining the ministry's work plan for the 2024–2027 period, El-Shimy explained that it is guided by Egypt Vision 2030, the State Ownership Policy Document, and the Government Work Program. Under this framework, the government will reduce or exit investments in certain sectors, maintain a limited presence in others, and continue direct involvement in strategically important industries—many of which will be developed through joint public-private projects. El-Shimy presented the ministry's performance report, emphasizing that its overarching goal is to achieve the highest possible return on public investments by enhancing the competitiveness of affiliated companies both locally and internationally. He stressed that the ministry is committed to modernizing management systems, adopting advanced technologies, and investing in workforce development to meet global standards. He also noted that the ministry is currently overseeing 97 strategic projects across sectors such as textiles, pharmaceuticals, chemicals, metallurgy, tourism, and trade. These projects are designed to revive industrial production, expand export capacity, and integrate more deeply into global value chains. According to El-Shimy, financial performance across Public Enterprises Sector companies has shown consistent improvement over the past decade. From fiscal year 2014/2015 to the current fiscal year, revenues and net profits have steadily increased. He reported that the value of goods and services exported by these companies reached $860 million by the third quarter of fiscal year 2024/2025, compared to $668 million in the previous year. He added that over the past 10 years, non-tax revenues from Public Enterprises Sector companies have grown by more than 347%, largely due to increased investment returns and improved efficiency. In closing, the minister highlighted the role of public sector companies in supporting national development priorities, including the revival of manufacturing, the development of specialized industries such as pharmaceuticals and chemicals, the expansion of urban and tourism infrastructure, and the growth of local trade. The government, he said, remains committed to transforming these companies into dynamic, competitive entities that contribute meaningfully to the national economy. As part of the government's push to revive Egypt's industrial base, Minister El-Shimy provided a detailed update on the restructuring and development plans for companies affiliated with the cotton, spinning, and weaving sector. These efforts fall under the broader national strategy to modernize the spinning and weaving industry and enhance its competitiveness both locally and internationally. The minister noted that the first phase of the development plan—accounting for 18% of the total scope—has been fully completed. The second phase, representing 28% of the plan, has reached 70% completion and is expected to be finalized within the current year. The third and largest phase, covering 54% of the overall project, is currently 54% complete and on track for completion by 2026. These phases are not only focused on infrastructure and equipment upgrades but also address the supply chain for raw materials, including long- and short-staple cotton and polyester. Turning to the metallurgical industries, El-Shimy highlighted the successful revival of El Nasr Automotive Company, marking a milestone in Egypt's effort to localize the automotive industry. Bus production has resumed at international quality standards, with the factory now producing five buses per week, mainly for tourist transport firms. Additional deliveries are underway, including electric buses and minibuses. The infrastructure at Bus Factories 3 and 4, as well as at passenger car facilities, has been fully upgraded, including state-of-the-art painting, body assembly, and final assembly lines. Projects also include battery and chassis assembly operations. In the steel sector, Delta Steel Company completed construction of iron and steel foundries with an annual production capacity of 10,000 tonnes. New rolling mills have been acquired, while El Nasr Glass and Crystal Company has improved its embossed glass production. At the Mines and Quarries Company, modern crushing equipment and new production lines for raw materials have been installed. Further development projects are underway at Egyptalum in Naga Hammadi. These include the procurement and installation of a wire production machine with a monthly capacity of 6,000 tons, the construction of a 50,000-ton alumina storage silo, and the establishment of a new production line for pharmaceutical-grade aluminium discs. Additionally, Egyptian Ferroalloys Company in Aswan is undergoing a major overhaul of its fourth furnace, with future expansion plans already in the pipeline. A new industrial complex dedicated to phosphate ore concentration is also being established at Nasr Mining Company, aiming to increase value-added output from Egypt's mineral resources. The minister also addressed ongoing efforts to maximize the value of public business assets and strengthen private-sector participation in real estate and infrastructure projects. A key example is the development of New Heliopolis City by Misr El Gadida for Housing and Development. The 300-acre urban development includes a fully developed marketing strategy, with projected revenues from the first phase estimated at around EGP 4bn. These initiatives reflect a multi-sectoral approach to reform, designed to revitalize national industries, promote export-oriented production, and foster effective collaboration between the public and private sectors in line with Egypt's long-term economic goals.
