{"id":560129,"date":"2021-02-16T03:34:01","date_gmt":"2021-02-16T03:34:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/also-on-our-radar-on-16-february-2021\/"},"modified":"2021-02-16T03:34:01","modified_gmt":"2021-02-16T03:34:01","slug":"also-on-our-radar-on-16-february-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/also-on-our-radar-on-16-february-2021\/","title":{"rendered":"Also on our radar on 16 February 2021"},"content":{"rendered":"<p><strong>More on the state\u2019s plan to overhaul spinning and weaving: <\/strong>The Public Enterprises Ministry\u2019s bid to streamline state-owned spinning and weaving companies is targeting a significant increase in production, Minister Hisham Tawfik told cabinet in his <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1858277871017236?amp%3B__tn__=%2CO%2CP-R\">latest review<\/a> of the plan. The EGP 21 bn plan could see the yearly output of state ginning factories more than doubled to 4 mn qintars and spinning mills and textile plants more than quadrupled to 188k and 199k cubic meters. Under the ongoing plan, nine spinning and weaving companies will be merged into one mega-entity with seven ginning facilities under the ministry\u2019s purview, and about 23 others consolidated into nine, Tawfik <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b748225-a6d3-48e2-92f9-08844c93ae45\">recently said<\/a>.<\/p>\n<p><strong>The plan is part of efforts to boost the performance of state-owned enterprises (SOEs). <\/strong>This <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/71938aa0-e362-4429-9e61-30a853a317ad\">involves<\/a> reducing the number of SOEs and streamlining their financial performance. Public sector reform has been one of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0f0225e-15bb-41ec-b441-e7f0beb52b47\">key conditions<\/a> of the latest loan Egypt received from the IMF under its USD 5.2 bn standby facility.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Sharm El Sheikh International Airport has received its first direct flight from Estonia<\/strong> in more than a year, the <a href=\"https:\/\/bit.ly\/3pw3cmZ\">local press reports<\/a>, citing the addition of a weekly flight on this route until winter ends.<\/li>\n<li><strong>Natural gas at Sinai plants: <\/strong>Some factories in South Sinai <a href=\"https:\/\/bit.ly\/3rQxkL2\">will start using compressed natural gas<\/a> as an alternative to diesel fuel as part of the state\u2019s drive to promote natgas as a source of energy. Those factories <a href=\"https:\/\/bit.ly\/3qo5dTm\">are located<\/a> in a remote industrial zone in Abu Zenima and don\u2019t have access to the national natgas grid.<\/li>\n<li><strong>Al Ahly Sabbour <\/strong>and the UAE\u2019s <strong>Eltizam Asset Management Group<\/strong> <a href=\"https:\/\/tinyurl.com\/3t57979s\">signed an<\/a><a href=\"https:\/\/tinyurl.com\/3t57979s\">agreement<\/a> to create two companies \u2014 <strong>Tafawuq Egypt<\/strong> and <strong>Three60 Egypt<\/strong> \u2014 to manage four real estate projects worth EGP 2 bn.<\/li>\n<li>The <strong>Ghabbour Development Foundation<\/strong> is setting up two applied tech institutes in 15 May and 6th of October cities under an MoU <a href=\"https:\/\/tinyurl.com\/lfgjxvwc\">signed<\/a> with the Education Ministry.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>More on the state\u2019s plan to overhaul spinning and weaving: The Public Enterprises Ministry\u2019s bid to streamline state-owned spinning and weaving companies is targeting a significant increase in production, Minister Hisham Tawfik told cabinet in his latest review of the plan. The EGP 21 bn plan could see the yearly output of state ginning factories [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,93,72,153,131,954,284,3053,158,238,234],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560129","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-energy","tag-enterpriseam","tag-hisham-tawfik","tag-manufacturing","tag-sharm-el-sheikh","tag-south-sinai","tag-spinning-and-weaving","tag-state-owned-enterprises","tag-tourism","tag-travel","wpautop","entry"],"acf":{"mongo_id":"7f42cd0c-bac4-4b81-b379-d3327c964f36","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[560108],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Also on our radar on 16 February 2021 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/also-on-our-radar-on-16-february-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Also on our radar on 16 February 2021\" \/>\n<meta property=\"og:description\" content=\"More on the state\u2019s plan to overhaul spinning and weaving: The Public Enterprises Ministry\u2019s bid to streamline state-owned spinning and weaving companies is targeting a significant increase in production, Minister Hisham Tawfik told cabinet in his latest review of the plan. The EGP 21 bn plan could see the yearly output of state ginning factories [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/also-on-our-radar-on-16-february-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-16T03:34:01+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/also-on-our-radar-on-16-february-2021\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/also-on-our-radar-on-16-february-2021\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Also on our radar on 16 February 2021\",\"datePublished\":\"2021-02-16T03:34:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/also-on-our-radar-on-16-february-2021\/\"},\"wordCount\":329,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"ALSO ON OUR RADAR\",\"energy\",\"EnterpriseAM\",\"Hisham Tawfik\",\"Manufacturing\",\"Sharm El Sheikh\",\"South Sinai\",\"spinning and weaving\",\"state-owned enterprises\",\"tourism\",\"travel\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/also-on-our-radar-on-16-february-2021\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/also-on-our-radar-on-16-february-2021\/\",\"name\":\"Also on our radar on 16 February 2021 - 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Several spinning and weaving factories are set to start production before the end of 2022, according to the minister,\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573818,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/spinning-and-weaving-holding-co-set-to-receive-eur-540-mn-loan-this-month\/","url_meta":{"origin":560129,"position":3},"title":"Spinning and Weaving Holding co. set to receive EUR 540 mn loan this month","author":"enterpriseam admin","date":"18 August 2020","format":false,"excerpt":"State-owned Holding Company for Spinning and Weaving is expected to receive by the end of this month a EUR 540 mn loan that the National Bank of Egypt arranged earlier this year from two unnamed Italian and Swiss banks, Public Enterprises Minister Hisham Tawfik said, according to Masrawy. The loan\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546200,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/08\/worlds-largest-spinning-mill-to-begin-operations-next-year-tawfik\/","url_meta":{"origin":560129,"position":4},"title":"World\u2019s largest spinning mill to begin operations next year -Tawfik","author":"enterpriseam admin","date":"8 May 2022","format":false,"excerpt":"A new spinning mill in El Mahalla that is set to be the largest in the world will begin operations next year, Public Enterprises Minister Hisham Tawfik told Dostor. The state has already launched the distributing company that will sell its products, NIT, which is currently in talks with retailers\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572945,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/14\/national-bank-of-egypt-arranges-eur-540-mn-loan-for-spinning-and-weaving-holding-co\/","url_meta":{"origin":560129,"position":5},"title":"National Bank of Egypt arranges EUR 540 mn loan for Spinning and Weaving holding co.","author":"enterpriseam admin","date":"14 July 2020","format":false,"excerpt":"The National Bank of Egypt has arranged a EUR 540 mn loan for state-owned Holding Company for Spinning and Weaving from two unnamed Italian and Swiss banks, Public Enterprises Minister Hisham Tawfik tells Al Mal. 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