MANUFACTURING-

Egyptian, Czech firms to build EUR 10 mn fiberglass cylinder factory: Local firm Treegas has signed an MoU with Czech company HPC that will see the firms establish a factory to localize the manufacturing and filling of fiberglass LPG cylinders in the Sokhna Industrial Zone, with planned investments of EUR 10 mn split over two phases, according to a statement from the Suez Canal Economic Zone.

The breakdown: The first phase will see investments of EUR 7 mn, contributing to an annual production capacity of 500k cylinders. The remaining EUR 3 mn will be seen in the second phase of the project set to include a filling station and a production line for valves and regulators.

Treegas also signed a supply and purchase agreement with Omani firm Muscat Gas, which will distribute all Trigas products in Jordan and Gulf countries.

RENEWABLES-

#1- Egypt to partially pay Scatec in EGP: The Madbouly government has reached an agreement with Norwegian renewables developer Scatec partially pay for the electricity purchased under the 25-year power purchase agreement inked with the Egyptian Electricity Transmission Company for its planned 1 GW solar and 100-200 MWh battery storage hybrid project in local currency, Asharq Business reports, citing two unnamed government officials.

The breakdown: The agreement would see the government make 50% of its payments in EGP for the first three years then pay 25% in EGP and 75% in USD for the remaining duration of the agreement. The agreement sets the electricity purchase price at USD 0.023 cents per KW hour, one of the sources said. Scatec is expected to break ground on the project in 1H 2025 and Asharq Business’ sources see the project kick off operations early 2026.

#2- Onasolar to help projects go green: Local solar energy firm Onasolar will bring 144 MW worth of solar energy online during the first half of 2025, a company official told Al Arabiya. The projects include a 100 MW plant in West Sohag for the Electricity Ministry, a 40 MW plant in Wadi El Natrun to feed a 37k feddan agricultural project, and a 4 MW solar project at Cairo International Airport.

Also in the pipeline: Onasolar plans to set up up to 1 GW worth of solar projects in partnership with the Electricity Ministry, add a fourth production electrical transformers line to its facilities, and eventually tap the Sudanese, Libyan, and Iraqi markets.

HEALTHCARE-

#1- Another step forward for the gov’t’s vaccine localization efforts: The government has launched its National Strategy for the Localization of Vaccine Manufacturing, according to a statement from the Health Ministry. The strategy will involve long term contracts to secure a stable market for local vaccine manufacturers, and will focus on aiding firms operating in the sector through the transfer of tech capabilities, capacity building, and support for scientific research, alongside financial incentives such as tax exemptions and support for new investments, the statement reads.

The anticipated outcomes of the strategy include increased local production to meet national needs, increased exports to African countries, reduced spending on vaccine imports, improved local production quality, and increased global competitiveness, according to the statement.

Remember: The government is planning to localize 50% of all vaccine production by 2030. There will then be efforts to increase this to 75% by 2035 and full self-sufficiency by 2040.

#2- Egypt Healthcare Authority inks collaboration agreements with Pfizer, Ever Pharma: The Egypt Healthcare Authority oversaw the signing of strategic cooperation agreements with Pfizer and Ever Pharma, according to a statement from the authority. The agreement with Pfizer aims at improving bacterial diagnostics and optimizing antibiotic use, while the collaboration with Ever Pharma will focus on raising awareness and improving early treatment for neurological conditions, with the ultimate aim of improving treatment outcomes and reducing the economic burden on hospitals.

#3- Roche and Egyptian Healthcare Authority sign a partnership to boost healthcare: Roche Diagnostics and Roche Pharmaceuticals have signed a tripartite cooperation agreement with the Egypt Healthcare Authority to advance digital pathology and data governance, according to an authority statement. The agreement aims to improve patient outcomes and enhance healthcare services in Egypt through the implementation of advanced technology and collaboration with global hospitals.

REAL ESTATE-

Landmark Developments to launch an EGP 10 bn project in Sheikh Zayed: Real estate firm Landmark Developments is planning on launching an EGP 10 bn residential project in Sheikh Zayed, from which it is targeting some EGP 15 bn in sales, Al Borsa quotes Landmark Developments CEO Amr Sultan as saying. The firm has obtained loans totalling around EGP 1.5 bn to finance the project, with the company currently relying on both self-financing and bank loans to complete its projects, Sultan added.

Landmark Developments has been busy as of late: The firm is also planning on launching another residential project — dubbed STEI8HT — in New Cairo, for which it received a separate EGP 2.8 bn loan from a Banque Misr-led consortium with EG Bank and the Suez Canal Bank.

EXPANSION-

PayMob, Homzmart eye GCC expansion under new partnership Local fintech startup Paymob and online furniture marketplace Homzmart have signed a memorandum of understanding to work together in Egypt and explore expansions into GCC countries that include the UAE, Saudi Arabia, and Oman, the companies said in a joint statement (pdf).

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