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ACWA Power’s Kom Ombo solar plant to finish construction by April 2024. PLUS: MSME financing, GB Auto loan, Chinese investment, InDrive + Cargas
The 200-MW solar plant being built in Upper Egypt is now 82% complete
JV plans USD 100 mn investment to localize the production of Geely cars
The JV wants to begin production in 4Q 2024
Recapping Egypt’s manufacturing development strategy through to 2030
Government sees transformative industries accounting for 20% of GDP by 2030
Car sales jump in November to a 2023 record
Distributors sold over 9.9k vehicles in November, the highest monthly figure since September 2022
EIB, EU extend EUR 165 mn to green our industrial sector. PLUS: Jinbei’s buys Brilliance stake, GUPCO, data centers, steel price rises, sugar tenders
The funds will help the private and public sector combat industrial pollution
Autostartup Mtor lands USD 2.8 mn in pre-seed round, Lychee closes series A
The pre-seed round was led by Egyptian venture capital firm Algebra Ventures
Naguib plans to invest over USD 120 mn to turn motorcycles and tuk-tuks into EVs
The project will be carried out by the e-mobility startup BluEV, which is chaired by Sawiris
Auto sales recovery stutters in October
Sales fell 9% in October after posting their best month in a year in September
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