El Wazir goes to Italy: Transport and Industry Minister Kamel El Wazir has been in Italy this week to view the country’s high speed rail network and discuss transport and industrial investments and cooperation with a number of public and private sector representatives from Italy and elsewhere, according to a ministry statement.

#1- Scooter manufacturer Piaggio is mulling reopening its factory in Egypt, with the company citing the government’s focus on localising manufacturing and Egypt’s favorable investment climate as driving the company’s interest.

#2- Home appliances manufacturer Ariston is thinking about expanding its presence in the Egyptian market. The company already has three factories in Obour City over 220k sqm.

#3- Railway company Hitachi Rail — which recently acquired Thales ’ ground transportation unit — is looking to expand its footprint in Egypt, citing the country’s focus on developing its transportation infrastructure. Thales’ former unit is currently developing the first 19-km, 16-station phase of Cairo Metro Line 4 alongside Orascom Construction and Colas Rail.

#4- Luxury yacht manufacturer Navigo also highlighted its interest in investing in Egypt’s yacht industry, given the country’s prime tourism location and suitability for yacht manufacturing. El Wazir noted Egypt’s readiness to push local yacht production.

ICYMI- Navigo representatives previously agreed with the government to draft an MoU for future cooperation to boost yacht tourism in Egypt.

**Earlier this year, we ran a Hardhat on Egypt’s ambitious plans to become a global yacht hotspot.

#5- Industrial vehicles manufacturer Iveco is conducting a feasibility study to launch a new factory in Egypt for truck manufacturing. Iveco cited Egypt’s large consumer market and position as a gateway for exports as among the reasons for its interest.

#6- Railway and urban mobility company Salcef Group discussed establishing a new company in collaboration with Egyptian Railways for Track Renewal and Maintenance Company for the renewal of some 2k km of railway tracks and the provision of railway renewal machinery and equipment.

PLUS- Italian state-owned Italian State Railways discussed submitting an offer to manage and operate Egypt’s high-speed electric rail network with El Wazir, according to a separate statement. The talks come as Deutsche Bahn — initially tapped for the role in 2022 — has yet to submit a financial offer, violating the Transport Ministry’s regulations for awarding contracts, government sources tell Al Borsa. The ministry is reportedly planning to launch a public tender for the network’s management and operation soon, whether through public bidding or a direct award.

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