Latest news with #PublicEnterprises
Fashion Value Chain
6 days ago
- Business
- Fashion Value Chain
National Industrial Corridor Development Corporation (NICDC) Honoured with Udyog Vikas Award
Palakkad Industrial Smart City to reshape Kerala's industrial landscape: Union Minister for State for Heavy Industries, Public Enterprises, and Steel, Shri Bhupathi Raju Srinivasa Varma Union Government committed to developing Greenfield Industrial Smart Cities across India National Industrial Corridor Development Corporation (NICDC) was honoured with the Udyog Vikas Award during the Udyog Vikas event organised by Janmabhumi Daily, a leading news daily in the state of Kerala. The event was graced by the presence of the Minister of State for Heavy Industries, Public Enterprises, and Steel, Shri Bhupathi Raju Srinivasa Varma who highlighted the Union Government's steadfast commitment to developing state-of-the-art Greenfield Industrial Smart Cities across India. From left: Arvind Devaraj, Vishnu Sharma, Minister B.R.S. Varma, Vikas Goel & Rahul Jagadish at the Udyog Vikas Award during the Udyog Vikas event During his address, Shri Varma lauded the transformational potential of the Integrated Manufacturing Cluster (IMC) at Palakkad, stating that the project is poised to reshape the infrastructure and industrial landscape of Kerala and the broader southern region of the country. The event also featured a technical session focusing on the National Industrial Corridor Development Programme, providing in-depth insights into the strategic vision, planning, and progress of the upcoming Palakkad Industrial Smart City. A dedicated session by NICDC Logistics Data Services Ltd. (NLDSL) further elaborated on the innovative digital solutions being deployed through the Logistics Data Bank (LDB) and Unified Logistics Interface Platform (ULIP). The Palakkad Industrial Smart City, spanning 1,710 acres across Pudussery Central, Pudussery West, and Kannambra, represents a major milestone in Kerala's industrial development. Strategically located 21 km from Palakkad city, 120 km from Cochin, and 50 km from Coimbatore, the project offers seamless interstate connectivity and significant logistical advantages, positioning it as a key industrial gateway for South India. With robust multi-modal connectivity via road, rail, and air, the city is designed to attract high-quality investments and drive regional employment and innovation. Key project milestones include: 81% of required land already in possession. Environmental clearances for all land parcels granted on January 01, 2025. Letter of Award issued to Project Management and Construction Consultant. Finalization of EPC tender documents in progress. The event also showcased NLDSL's contributions to transforming India's logistics ecosystem. Since its inception in September 2022, ULIP has integrated 43 systems from 11 ministries, connected through 129 APIs and more than 1,800 data fields, empowering over 1,300 registered companies and enabling more than 100 crore API transactions. This technology-driven platform exemplifies Prime Minister Shri Narendra Modi's vision for a unified, efficient, and transparent logistics network in India. NICDC's recognition at the Udyog Vikas event underlines its vital role in catalyzing India's industrial transformation and enhancing the country's competitiveness in the global manufacturing and logistics arena.
Daily News Egypt
28-05-2025
- Automotive
- Daily News Egypt
PM orders revival of El Nasr Automotive, launch of globally rated bus production initiative
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.
Zawya
27-03-2025
- Business
- Zawya
Egypt accelerates pharmaceutical industry development in state-owned companies
Egypt - Mohamed El-Shimy, Minister of Public Enterprises, and Ali El-Ghamrawy, Chairperson of the Egyptian Drug Authority (EDA), conducted an extensive field visit to subsidiaries of the Holding Company for Pharmaceuticals, Chemicals, and Medical Supplies. The tour covered Arabian Drug Company (ADCO), Memphis Pharmaceuticals, and Nile Pharmaceuticals, focusing on recent facility upgrades aimed at enhancing production capacity, competitiveness, and compliance with Good Manufacturing Practice (GMP) standards. This initiative is part of the ministry's broader strategy to reinforce Egypt's pharmaceutical security while meeting international quality benchmarks. El-Shimy reaffirmed the ministry's commitment to modernizing state-owned pharmaceutical companies, strengthening their role in ensuring national drug security, and aligning with global industry standards. He emphasized ongoing efforts to upgrade production lines, integrate advanced technology, and optimize resources to increase efficiency and sustain local market supply. The modernization drive is a cornerstone of Egypt's industrial localization agenda, ensuring high-quality, affordable medicines remain widely available. In collaboration with the EDA, the ministry is intensifying efforts to meet GMP requirements, with El-Shimy praising the progress achieved in upgrading facilities and infrastructure. He highlighted how these advancements not only improve the competitiveness of Egyptian pharmaceutical firms but also enhance their export potential in global markets. Expanding international reach remains a key pillar of the government's strategy, with state-owned pharmaceutical companies actively increasing their presence across Africa, the Middle East, and beyond. Human capital development is also a top priority, with the ministry focusing on employee training and skills enhancement. By investing in workforce capabilities, improving motivation, and optimizing working conditions, the ministry aims to sustain long-term industry growth. El-Ghamrawy, Chairperson of the EDA, underscored the vital role of state-owned pharmaceutical factories in Egypt's healthcare system. He commended their commitment to producing high-quality, effective medicines that meet global standards, stressing that ongoing modernization efforts will further strengthen their competitive edge. He also emphasized the importance of ensuring continuous access to essential medicines, supporting Egypt's healthcare sector, and enhancing pharmaceutical exports. The EDA remains committed to fostering an investment-friendly environment for the pharmaceutical industry by supporting infrastructure development and regulatory improvements. This approach aims to expand domestic pharmaceutical production, encourage innovation, and strengthen Egypt's resilience against emerging healthcare challenges. ADCO, established in 1964, operates 13 production lines and recently underwent a major modernization initiative, with over EGP 600 million invested in facility upgrades. ADCO exports to multiple Arab and African countries, including Sudan, Iraq, Yemen, the UAE, Libya, Senegal, Nigeria, Mali, and Zimbabwe. Between July 2024 and February 2025, the company recorded EGP 777 million in sales, marking a 39% increase compared to the same period last year, while profits reached EGP 103 million. Memphis Pharmaceuticals, one of the oldest pharmaceutical firms in the Middle East, was established in 1940 and operates 15 production lines across various pharmaceutical forms. The company recently modernized key production areas to comply with GMP standards. Memphis exports to Gulf countries, Africa, and Eastern Europe, achieving a 223% surge in profits and an 83% increase in revenues during the first half of the 2024-2025 fiscal year. As Egypt continues to modernize its pharmaceutical sector, these initiatives reinforce the country's commitment to expanding production, increasing exports, and ensuring the availability of high-quality medicines at competitive prices.
