A lot of Emirati investments incoming: A series of meetings between government officials and Emirati government and business figures yielded three new joint projects that are set to inject a whole lot of cash into our industrial sector.

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#1- A USD 3 bn oil logistics zone on the Mediterranean: Egypt and the UAE inked an MoU to build a USD 3 bn oil logistics zone at Al Hamra Port on the Mediterranean coast, according to a cabinet statement. The new zone will leverage the integrated system at the Fujairah Oil Industry Zone and its partnerships with international oil suppliers to streamline oil supply chain in Egypt.

Timeline: The construction of the zone is expected to take three years from the date construction kicks off in 1H 2025 and following the completion of technical studies, an Egyptian government official told Asharq Business. Additionally, an Egypt-UAE team has been put together to follow up on progress of the MoU and to resolve any hindrances, according to the cabinet statement.

We saw this coming: The government of UAE’s Fujairah discussed potential investments in our oil sector during a visit by Oil Minister Karim Badawi to the emirate at the end of July. The talks revolved around a partnership between Egypt and UAE to enhance petroleum storage and handling in Egypt, as well as cooperate on ship bunkering.

#2- An Emirati industrial zone in East Port Said? The two sides are also in talks over setting up an Emirati industrial zone in East Port Said, aimed at meeting local market needs and ramping up exports, according to a statement from the Industry and Transport Ministry. The zone would leverage the geographic advantages of the area and its access to railways linking the zone with ports on the Mediterranean.

A variety of projects are on offer: The zone would include solar and wind energy projects alongside wastewater treatment and seawater desalination plants and an aluminum manufacturing complex, the statement said. The statement also suggested the government was exploring the option of making the zone a freezone or special economic zone exempt from customs duties.

#3- Hisense inks agreement for USD 38 mn manufacturing facility: Chinese electronics and household appliance manufacturer Hisense and the UAE’s FBB Tech have inked a contract with Chinese industrial developer Egypt TEDA to establish a USD 38 mn electronic devices manufacturing facility in the China-Egypt TEDA trade zone in Ain Sokhna, according to a cabinet readout.

The details: The project will span 110k square meters and is poised to produce 2.5 mn units a year. The first phase of the project includes manufacturing TVs, monitors, and audio recorders, with 30% of production earmarked for the local market and 70% designated for exports to countries in the Middle East, East Africa, and Europe.

CHINA ALSO WANTS IN ON THE INVESTMENT SPREE-

Another Chinese project incoming? Chinese textile and garment manufacturer Jiangsu Lianfa Textile is looking to set up a USD 500 mn integrated complex for textile and ready-made garment production in Egypt, according to a statement.

The specs: Spanning 350k square meters, the planned facility is set to include several production lines. The Chinese company intends to export 90% of the facility’s production.

GAFI wants more: The investment authority has plans to organize forums and promotional tours to capture the attention of more emerging markets-focused Chinese investors, according to the General Authority for Investment and Freezones head Hossam Heiba.

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