Energy resilience lets industry plan in years, not seasons

In the hardest hours of the hottest days, Egypt spent the summer matching energy supply to demand. A manufacturer weighing a new factory here needs confidence that gas and power will be available throughout the next decade.

The gas balance can change much faster than a factory’s investment horizon. Egypt’s annual gas production fell nearly 30% between 2023 and 2025, by the Joint Organizations Data Initiative's count (pdf). A factory financed today will need reliable energy through years of changing supply conditions.

At Valmore Holding, we see resilience from both sides of the meter. Our gas and power businesses build infrastructure before demand arrives, while our industrial companies need reliable supply to keep production running.

AlexFert depends on that reliability. Stable natural gas supply through Q2 2026 enabled our fertilizer business to sustain full production utilization. Sales volumes reached about 416k tons in H1 2026, up 11% year-on-year, while AlexFert remained Valmore’s largest hard-currency contributor. That stability makes it easier for an exporter to commit to longer contracts.

New factories need gas and power in place before they open. NATGAS, one of our NatEnergy distributors, serves around 900 industrial clients. This year, it began laying the network for the New 6th of October industrial zone, ahead of the factories it will supply. On the power side, Kahraba’s electricity distribution volumes rose 40% year-on-year in H1 2026.

For industrial investors, energy belongs in the investment case alongside land, equipment, and financing. Consider the two Suez Canal Economic Zone projects approved by the Ministerial Group for Industrial Development in January. Their gas and electricity allocations were to be submitted to the Supreme Energy Council for approval, according to the Industry Ministry. Energy requirements need to enter the investment plan long before construction begins.

At Valmore Holding, that commitment to long-term resilience is part of what Investing Beyond Capital means in practice. As active owners, we work alongside our portfolio companies to strengthen the operating capabilities and infrastructure platforms they need to grow.

That work shows up in ordinary business decisions: a longer export contract, a new production line, or a factory site chosen with confidence that its gas and power connections will be ready when needed. Capital can build a factory. Resilient infrastructure allows that factory to plan years ahead.

Jon Rokk, CEO, Valmore Holding