MANUFACTURING-

#1- Gov’t considers USD 250 mn plan to revamp EgyptAlum: The Industry Ministry is mulling a five-year, USD 250 mn plan to develop state-owned and EGX-listed Egypt Aluminum (EgyptAlum), according to a statement following a meeting of the ministerial group for industrial development. The proposed project would keep the company’s assets, while developing production lines, capacity, and preparing the company for the EU’s incoming Carbon Border Adjustment Mechanism.

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What’s next? The Public Enterprises Ministry will present a fuller plan to develop the company with a timeframe the next time the ministerial group meets.

#2- Subsidized loan program open to the animal feed industry: Industry Minister Kamel El Wazir confirmed in the meeting that the animal feed industry has become eligible to participate in the subsidized loan program that offers businesses loans at a 15% interest rate — nearly half the central bank’s post-float 28.25% lending rate.

#3- Industrial license renewals for projects in residential and unplanned industrial areas put on indefinite hold: The ministerial group also greenlit the proposal to not renew industrial licenses for any factory situated in residential areas or unplanned industrial areas.

#4- Turkish investment in Egypt’s gold sector? Turkish investors could be interested in Egypt’s gold sector, the head of the gold division at the Federation of Egyptian Chambers of Commerce, Ehab Wassef, told Asharq Business. The discussions are part of wider plans to promote the sector to foreign investors and make Egypt one of the top 10 gold exports by 2027 — we currently rank in the top 30.

EXPANSION-

Zeta Pharma eyes Saudi expansion: Egypt-based Zeta Pharma is looking to complete its SAR 200 mn factory in Saudi Arabia — dubbed Zeta Gulf — within 1.5 years, Al Borsa quotes the company’s Commercial Director Mohsen Hassan as saying. The factory is being set up in the Sudair Industrial City and will target the Saudi market and other neighboring Gulf markets.

LOGISTICS-

EDSCO awarded 30-year contract for Alexandra Port logistics hub development: Egyptian-Dutch JV Egyptian-Dutch Shipping Company (EDSCO) was awarded a 30-year concession to develop a 35k sqm dry bulk logistics zone at Alexandria Port, according to a decision by President Abdel Fattah El Sisi published in the Official Gazette. EDSCO — a partnership between Netherlands-based Vitra and Egypt’s El Fateh — will manage and maintain the logistics zone, which is designed for dry bulk cargo with an annual capacity of 5 mn tons.

RETAIL-

GMG has tripled its retail presence in three years: UAE-based retailer GMG has tripled its retail footprint in Egypt since entering the market in 2021, the company said in a press release (pdf). GMG currently has some 30 locations across Egypt, representing brands including JD Sports, Nike, and Dropkick.

What they said: “Egypt’s retail sector presents unprecedented opportunities, driven by a young, digitally savvy population and robust economic growth,” said Senior Vice President of Geographies and Marketplace Imad El Ghazal. “Our success in tripling our retail footprint … reflects both the strength of our brand portfolio and the increasing sophistication of Egyptian consumers.”

DEVELOPMENT FINANCE-

AfDB mulls grant to fund development unit: The African Development Bank (AfDB) has proposed a USD 668.7k grant to develop an aid coordination and resource mobilization unit at the Planning and International Cooperation Ministry, according to a report from the development bank. The ministry will also put forward USD 117.9k for the project

REAL ESTATE-

Mahawer has big investment plans in the pipeline: Mahawer Developments — the newly-launched real estate developer by an Egyptian-Gulf coalition of real estate developers — plans to invest EGP 7 bn in projects across New Damietta City and the Delta, Al Mal reports.

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