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AI + Innovation (MENA) 
Infrastructure 
UAE’s NAS inches closer to becoming the majority shareholder of Egyfert
Shares are priced at EGP 95 apiece
Gov’t looks into exempting imported auto parts from state development fee
The move comes as part of the government efforts to localize the auto industry
Local auto assemblers could be exempt from development fees
Good afternoon, friends, and welcome to the end of a condensed workweek. Today’s issue takes a look at the future…
Banque Misr backs the country’s first onshore private investment in public equity fund. PLUS: Arab Contractors + CSCEC, Oriental Industrial Projects
Its other backers include E-finance, CIB, Suez Canal Bank, Misr Life Ins., and Midbank
Suez Canal Ports Company in the running for EGP 4 bn Taba Port development project. PLUS: Marco Group, Madinet Masr
The port is slated to give local exports access to new markets at lower costs
Italy’s Mapei opens EUR 25 mn chemicals plant
The company aims to position the facility as a regional production and export hub
China’s Befar kicks off construction on USD 500 mn green chemical plant — an Egypt first
The USD 300 mn first phase will be completed within 18 months
Gov’t kicks off EGP 30 bn financing initiative for industrial players
The program will offer an additional 2% cut for projects that introduce new industrial activities
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