{"id":656183,"date":"2024-12-01T00:00:00","date_gmt":"2024-12-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/01\/german-companies-mull-eur-1-bn-iron-factory-eur-30-mn-flame-resistant-material-factory-eur-5-mn-bicycle-parts-factory\/"},"modified":"2024-12-01T00:00:00","modified_gmt":"2024-12-01T00:00:00","slug":"german-companies-mull-eur-1-bn-iron-factory-eur-30-mn-flame-resistant-material-factory-eur-5-mn-bicycle-parts-factory","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/01\/german-companies-mull-eur-1-bn-iron-factory-eur-30-mn-flame-resistant-material-factory-eur-5-mn-bicycle-parts-factory\/","title":{"rendered":"German companies mull EUR 1 bn iron factory, EUR 30 mn flame-resistant  material factory, EUR 5 mn bicycle parts factory"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It looks like El Khatib's visit to Germany to talk investment wasn\u2019t a wasted<\/strong><strong> trip: <\/strong>Investment Minister Hassan El Khatib <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f36a7fb-e33f-413c-84a1-d7130193871b\/house-mulls-cybercrime-law-amendments\" style=\"\" rel=\"noopener\">was in Germany<\/a> over the weekend for the first ever Egypt\u2013North Rhine-Westphalia Economic Summit and meetings with senior figures from the country\u2019s private and public sectors. Companies from the EU\u2019s biggest economy \u2014 and the world\u2019s fourth largest \u2014 signalled their interest in building:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- A EUR 1 bn direct reduced iron factory<\/strong>, courtesy of German Metal manufacturer <a target=\"_blank\" href=\"https:\/\/www.sms-group.com\/\" style=\"\" rel=\"noopener\">SMS<\/a><a target=\"_blank\" href=\"https:\/\/www.sms-group.com\/\" style=\"\" rel=\"noopener\">Group<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/story.php\/?story_fbid=122124153452408172&amp;id=61562245173260&amp;_rdr\" style=\"\" rel=\"noopener\">statement<\/a> from the Investment Ministry. The factory is expected to have a capacity of 2.5 mn tons per year, which could be expanded to 4 mn tons. The project will create 1k jobs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An SMS delegation is set to arrive in Egypt for further negotiations soon<\/strong>, with the company still looking for a company to partner with for the project and wanting to explore establishing the factory in the Suez Canal Economic Zone.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- A EUR 30 mn flame-resistant material factory<\/strong>, which would be built by German advanced textile material producer <a target=\"_blank\" href=\"https:\/\/www.belchem.de\/\" style=\"\" rel=\"noopener\">Belchem<\/a>, according to a separate <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0UGWAjVTWpqheYAfSjP34kZ1fzANLyUruLsANSBGJcnviDHji5fXbTnrfySKpK2RMl\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry. The factory will be built on a 100k sqm plot and cover all stages of production, from creating fiber glass and then turning it into flame-resistant fibres for use in the automotive, aviation, and cookware appliance industries, among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> Egypt will receive a Belchem delegation to work on trying to make the proposal a reality.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3<\/strong><strong>- A EUR 5 mn first phase of a bicycle parts factory<\/strong>, spearheaded by German bicycle manufacturer <a target=\"_blank\" href=\"https:\/\/www.cube.eu\/\" style=\"\" rel=\"noopener\">Cube<\/a> that would manufacture carbon-reinforced bicycle parts for export to European factories assembling bicycles. The project is expected to have a production capacity of 300k parts per year, generating EUR 10 mn in exports annually. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The wheels are already in motion for the project<\/strong>, with the bicycle manufacturer set to visit Egypt for a second time to secure a 40k sqm plot in Tenth of Ramadan City for the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This could just be the first of Cube\u2019s Egypt investments<\/strong>, with the company also to study the proposal of opening up a factory to produce complete bicycles \u201ccompletely\u201d manufactured in Egypt, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- German auto parts manufacturer<\/strong> <a target=\"_blank\" href=\"https:\/\/mutares.com\/en\/\" style=\"\" rel=\"noopener\">Mutares Group<\/a> <strong> is looking to establish a factory in<\/strong><strong> Egypt<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02yTUfW2Tcymd51hdWFfTtHXymLJ8B8MeFd6wLp2gQZhnJsGcZHjkd3CZGMyYRjJQYl\" style=\"\" rel=\"noopener\">statement<\/a> by the Investment Ministry. The 10k sqm factory would export 90% of its production, according to the statement, which provided no details on the potential cost or timeline for the project<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> A delegation from Mutares is set to arrive in Egypt in the coming period to determine suitable partnerships for the project and to discuss establishing the project in an area under the SCZone.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- It was agreed that the German-Egyptian Joint Economic Committee will next take place on 18-19 February<\/strong><strong> in Cairo<\/strong> in a meeting between El Khatib and Germany\u2019s economy minister and vice chancellor, Robert Habeck.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- German airline <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.eurowings.com\/en\/booking\/flights\/sale-discounts.html?cha=sea&amp;ewc=bfd-2024&amp;si=g&amp;cmpID=20000783952&amp;keyword=eurowings_matchtype=e&amp;cr=722865817186_147622245105&amp;gclsrc=aw.ds&amp;gad_source=1&amp;gclid=CjwKCAiAjKu6BhAMEiwAx4UsAkbxISAMRZxvVqtmBdZojbw_gH7FAkq_3ZHP-iH1Trh34SHSstq0LhoCrcYQAvD_BwE&amp;gclsrc=aw.ds&amp;et_uk=1fe6de7dd7b94ffa8398a0f9b76749ca\" style=\"\" rel=\"noopener\">Eurowings<\/a><\/strong><strong> announced the launch of direct flights between <\/strong><strong>D\u00fcsseldorf and Cairo<\/strong>, according to another <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/permalink.php?story_fbid=pfbid037vAAScV29Roo19ZerxNP2CyjLAKd7RLNbYSUt58CyMQ4vza9H4RrUqPfCEvsQvudl&amp;id=61562245173260\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The iron factory is expected to have a capacity of 2.5 mn tons per year<\/p>\n","protected":false},"author":1,"featured_media":656184,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7272],"tags":[144,7113,72,481,125,131],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-656183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-automotive","tag-egypt-germany-relations","tag-enterpriseam","tag-germany","tag-investment-watch","tag-manufacturing","wpautop","entry"],"acf":{"mongo_id":"9c6eb021-6437-47c6-b6c2-f5624c2ec936","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1817.jpg","photo_position":"above","homepage_title":"","full_issue_title":"German companies mull EUR 1 bn iron factory, EUR 30 mn flame-resistant  material factory, EUR 5 mn bicycle parts factory","related_issue":[656178],"teaser":"The iron factory is expected to have a capacity of 2.5 mn tons per year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.f20d5555-5dbf-43de-a45a-71633b7731f6.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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