Indian investments incoming? Head of the Trade Ministry’s Commercial Representation Authority Yehia El Wathek Bellah held a series of meetings with representatives from major Indian companies to discuss potential investments in Egypt, according to an authority statement.

TL;DR: The talks covered an array of sectors — automotive, green hydrogen, furnishing, and carbon black — but produced no concrete agreements.

#1- A USD 60 mn carbon black factory in the making? One of India’s largest black carbon producers is interested in setting up a USD 60 mn plant in Egypt, the statement read, without providing the name of the company or when we can expect the project to materialize. A delegation from the company will be visiting Egypt to conduct field visits to potential locations that could house the factory.

Carbon black? It’s a material mainly used to strengthen rubber in tires, but can also be used in the production of plastics, batteries, pipes, and more.

#2- Welspun wants to set up shop in Egypt: Textile manufacturer Welspun — one of the largest home textile companies in India and globally — wants to set up a project in Egypt to help it enter African markets and boost exports to European, Arab, and US markets. Company representatives, during their meeting with El Wathek Bellah, discussed investment costs related to land acquisition, energy prices, and labor, and the incentives available, particularly in the Suez Canal Economic Zone.

What’s next? A delegation from Welspun will visit Egypt to meet up with government officials and private sector players and wrap up the feasibility studies needed for setting a project here.

#3- Hinduja continues to mull over entry into the Egyptian market: Officials from Indian conglomerate Hinduja Group have been developing plans to produce buses and light vehicles with officials from the General Authority for Investment and Free Zones and other local government bodies during recent visits to the country.

Not the first time we hear Hinduja is interested in Egypt: It was reported back in February that Hinduja is in talks with the Sovereign Fund of Egypt to set up an automotive factory in the country in partnership with El Nasr with an annual capacity of 6k vehicles.

AND- Flights between New Delhi and Cairo: El Wathek Bellah also met with executives from India’s flag carrier Air India and discussed setting up a direct flight route linking Cairo and the Indian capital. The two sides also looked into ways to boost transport, tourism, and trade between the two countries.

PLUS- El Wathek Bellah also met with officials from India’s Ocior Energy to follow up on its planned green ammonia production project Ain Sokhna. The company inked a USD 4.3 bn agreement with the SFE to develop the plant at the Port of Ain Sokhna earlier this summer.

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