Latest news with #MohamedShimy
Fibre2Fashion
14-05-2025
- Business
- Fibre2Fashion
25 textile firms from China explore partnership opportunities in Egypt
A Chinese delegation of investors and representatives from around 25 textile and garment companies recently visited Egypt to explore partnership opportunities. It met Egyptian Minister of Public Business Sector Mohamed Shimy, who briefed the representatives about the country's investment potential in the sector. A Chinese delegation from around 25 textile and garment firms recently visited Egypt to explore partnership opportunities. It met Egyptian Minister of Public Business Sector Mohamed Shimy, who briefed it about the country's investment potential. The delegation was presented with a portfolio of high-value products, including yarns, fabrics, garments, home textiles and medical textiles. The Chinese delegation was led by Zhang Tao, deputy marketing director of the China National Textile and Apparel Council (CNTAC), and Xu Yingxin, vice president of the China Textile Association. The meeting was held at the Cotton, Spinning, Weaving, and Garments Holding Company headquarters in Egypt, according to domestic media reports. The delegation was presented with a portfolio of high-value products, including yarns, fabrics, readymade garments, home textiles and medical textiles produced by the holding company's subsidiaries. The minister highlighted Egypt's recent progress in reviving ginning facilities and developing seven major manufacturing complexes. In December 2024, Prime Minister Mostafa Madbouly announced the completion of the first phase of Egypt's national project to modernise and revitalise the textile industry. The initiative's total cost exceeds EGP 56 billion. Of this, EGP 22 billion has been allocated for infrastructure development, with an additional EGP 640 million invested in cutting-edge machinery and equipment. Fibre2Fashion News Desk (DS)
Zawya
27-01-2025
- Business
- Zawya
Egypt restarts Ain Sokhna anode factory in partnership with BP
Egypt's Prime Minister Mostafa Madbouly witnessed the signing of a significant agreement at the Cabinet's headquarters in the New Administrative Capital on Sunday, aimed at restarting the Anode Blocks Factory in Ain Sokhna. The agreement, signed between British Petroleum (BP) Energia España and the Egyptian Anode Blocks Company, is part of a strategic initiative to revitalize the factory, which is majority-owned (75%) by the Metallurgical Industries Holding Company and its subsidiaries under the Ministry of Public Enterprise Sector. The partnership will focus on financing essential maintenance operations, overseeing the calcination process of petroleum coke, and enhancing the factory's production capacity. The signing ceremony was attended by Engineer Mohamed Shimy, Minister of Public Enterprise Sector. The contract was officially signed by Mohamed El-Saadawy, Executive Managing Director of Metallurgical Industries Holding Company, and Laura Peña, Head of International Coke Operations at BP. In a statement following the ceremony, Minister Mohamed Shimy emphasized that this agreement marks the return of the Anode Blocks Factory, which had been inactive for two years. The project aligns with the Ministry's broader goals of improving the capabilities of its companies, boosting production, and reducing imports to meet market demands, particularly for aluminum manufacturers. Shimy further highlighted that once operational, the factory is expected to produce 250,000 tonnes annually, following the installation of a second coke cooler. The anticipated revenue from this production is projected at $97 per metric ton of calcined petroleum coke. The factory will have a guaranteed minimum output of 200,000 tonnes annually. The contract, which spans five years, also outlines BP's commitment to investing $20 million in maintenance and efforts to maximize production capacity. BP will provide full technical support, sending a team of technicians to ensure the production meets required quality standards and specifications. Nader Zaki, BP's Regional President for the Middle East and North Africa, expressed his enthusiasm for the agreement, emphasizing that it reflects BP's long-standing commitment to Egypt and their shared history of collaboration, which spans over 60 years. Laura Peña, BP's Head of International Coke Operations, stated: 'This collaboration supports our strategy to enhance the production of European-grade anode coke in a more competitive manner.' © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Daily News Egypt
26-01-2025
- Business
- Daily News Egypt
Egypt restarts Ain Sokhna anode factory in partnership with BP
Egypt's Prime Minister Mostafa Madbouly witnessed the signing of a significant agreement at the Cabinet's headquarters in the New Administrative Capital on Sunday, aimed at restarting the Anode Blocks Factory in Ain Sokhna. The agreement, signed between British Petroleum (BP) Energia España and the Egyptian Anode Blocks Company, is part of a strategic initiative to revitalize the factory, which is majority-owned (75%) by the Metallurgical Industries Holding Company and its subsidiaries under the Ministry of Public Enterprise Sector. The partnership will focus on financing essential maintenance operations, overseeing the calcination process of petroleum coke, and enhancing the factory's production capacity. The signing ceremony was attended by Engineer Mohamed Shimy, Minister of Public Enterprise Sector. The contract was officially signed by Mohamed El-Saadawy, Executive Managing Director of Metallurgical Industries Holding Company, and Laura Peña, Head of International Coke Operations at BP. In a statement following the ceremony, Minister Mohamed Shimy emphasized that this agreement marks the return of the Anode Blocks Factory, which had been inactive for two years. The project aligns with the Ministry's broader goals of improving the capabilities of its companies, boosting production, and reducing imports to meet market demands, particularly for aluminum manufacturers. Shimy further highlighted that once operational, the factory is expected to produce 250,000 tonnes annually, following the installation of a second coke cooler. The anticipated revenue from this production is projected at $97 per metric ton of calcined petroleum coke. The factory will have a guaranteed minimum output of 200,000 tonnes annually. The contract, which spans five years, also outlines BP's commitment to investing $20 million in maintenance and efforts to maximize production capacity. BP will provide full technical support, sending a team of technicians to ensure the production meets required quality standards and specifications. Nader Zaki, BP's Regional President for the Middle East and North Africa, expressed his enthusiasm for the agreement, emphasizing that it reflects BP's long-standing commitment to Egypt and their shared history of collaboration, which spans over 60 years. Laura Peña, BP's Head of International Coke Operations, stated: 'This collaboration supports our strategy to enhance the production of European-grade anode coke in a more competitive manner.'
