AUTOMOTIVE-

How much is NATCO spending to localize the assembly of China’s Exeed? The National Automotive Company (NATCO) — the exclusive agent for China’s Exeed brand — will invest up to EGP 1.25 bn in the local assembly and retail expansion of the Exeed brand by the end of the year, Exeed Egypt General Manager Yehia Abdel Quddous told Al Borsa. Some EGP 1 bn of the investment is being directed toward assembling Exeed’s RX and (very handsome) VX models, with monthly output of 250 vehicles. The remaining EGP 250 mn will go toward opening two new showrooms and a service center in Alexandria and the Red Sea governorate before the year is out.

REMEMBER- Premium SUV-focused Chery subsidy Exeed launched local assembly at the Egyptian German Automotive Company’s facilities late last year.

EXPANSION-

State-owned Egyptian Sugar and Integrated Industries Company (ESIIC) is looking to build a USD 350 mn beet sugar plant in northern Sudan on the Sudanese government’s behalf under a turnkey framework, Hapi Journal quotes CEO Salah Fathy as saying. The company is handling the feasibility studies and designs for the facility and will also be responsible for the construction and operations. ESIIC expects to complete the feasibility studies within two months.

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The move is part of the company’s broader push into African markets: A technical team is also assessing a potential sugar plant in Burundi, with plans to upgrade the facility and add another 5k ton/day turnkey factory, Fathy added. All equipment for the Burundi projects will be designed and manufactured in-house at ESIIC’s Hawamdeya facilities in Egypt.

MANUFACTURING-

Red Sea petchem project moves ahead with new CNCEC agreement: Red Sea National Petrochemicals signed a non-binding agreement with China National Chemical Engineering Company (CNCEC) to co-develop its planned petrochemicals complex in the Suez Canal Economic Zone, according to an Oil Ministry statement. Under the agreement, CNCEC could help finance up to 85% of EPC costs and potentially take an equity stake in the project. The signing took place in Beijing in the presence of senior Egyptian and Chinese officials, including reps from Bank of China, Exim Bank of China, and Sinosure.

AGRICULTURE-

Potato exporters are about to have an easier time accessing EU markets: The EU approved regulations simplifying procedures for importing Egyptian table potatoes, the Agriculture Ministry said in a statement. The updated rules increase allowable shipment weights and reduce sampling requirements, helping cut export costs.

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