{"id":661219,"date":"2025-02-24T00:00:00","date_gmt":"2025-02-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/24\/qalaa-holdings-inaugurates-two-factories-with-investments-of-egp-427-mn\/"},"modified":"2025-02-24T00:00:00","modified_gmt":"2025-02-24T00:00:00","slug":"qalaa-holdings-inaugurates-two-factories-with-investments-of-egp-427-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/24\/qalaa-holdings-inaugurates-two-factories-with-investments-of-egp-427-mn\/","title":{"rendered":"Qalaa Holdings inaugurates two factories with investments of EGP 427 mn"},"content":{"rendered":"

Good afternoon folks, and happy Monday. <\/strong>We have another busy issue for you today \u2014 let\u2019s get into it.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

Qalaa Holdings<\/strong> opens new herb drying facility with EGP 400 mn in <\/strong>investments: <\/strong>EGX-listed Qalaa Holdings has inaugurated a new herb drying facility for its subsidiary Dina Farms, marking the completion of the EGP 400 mn first phase of the project, according to a press release viewed by EnterpriseAM. The factory has reportedly received all international certifications to begin production for export.<\/p>\n

The company also added an EGP 27 mn glass wool pipe factory: <\/strong>Qalaa also announced the inauguration of a new EGP 27 mn glass wool pipe insulation production line at Glass Rock Insulation<\/a>, a subsidiary of Qalaa\u2019s ASEC Holding. <\/p>\n

Both factories stand to boost the company\u2019s FX revenues:<\/strong> \u201cWe expect export revenues from insulation products and the new herb drying facility to reach around USD 40 mn,\u201d Qalaa Holdings founder and chairman Ahmed Heikal noted, adding that the company\u2019s export revenues had reached USD 47.7 mn in the first nine months of 2024.<\/p>\n

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HAPPENING TONIGHT-<\/p>\n

<\/p>\n

Enjoy a night of unfiltered comedy with <\/strong>Open Mic Comedy Night<\/a><\/strong>, set to kick off tonight at 8pm at The Atrium<\/a> in Maadi. Make a reservation by calling the venue at 01010917745.<\/p>\n

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THE BIG STORY ABROAD<\/p>\n

Today\u2019s int\u2019l headlines are being dominated by news of the German right\u2019s anticipated <\/strong>victory in the country\u2019s parliamentary elections. <\/strong>Germany\u2019s center-right Christian Democrats (CDU\/CSU) bloc have garnered the highest portion of votes at 28.5%, leaving the center-right coalition in need of just one other party to secure a parliamentary majority. Negotiations could see the center-right coalition partner with either the far-right Alternative for Germany (AfD) \u2014 who came in second in the vote with its best-ever showing of 20.8% \u2014 or the center-left SPD, which garnered 16.4% of the vote. The election comes after the incumbent center-left alliance headed by the SPD\u2019s Olaf Scholz collapsed in December amid budget disputes<\/a> and two years of economic contraction. <\/p>\n

The CDU\/CSU\u2019s victory comes as Europe scrambles to protect its interests amid an <\/strong>increasingly tense relationship with the US. <\/strong>The center-right coalition\u2019s leader, Friedrich Merz, has said that he plans to \u201cunite Europe\u201d and \u201cachieve independence from the US,\u201d noting that he believes that US president Donald Trump and his administration are \u201clargely indifferent\u201d to Europe\u2019s fate. (FT<\/a> | Bloomberg<\/a> | Reuters<\/a> | WSJ<\/a>)<\/p>\n

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