{"id":661869,"date":"2025-03-06T00:00:00","date_gmt":"2025-03-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/06\/a-usd-50-mn-home-appliances-complex-incoming\/"},"modified":"2025-03-06T00:00:00","modified_gmt":"2025-03-06T00:00:00","slug":"a-usd-50-mn-home-appliances-complex-incoming","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/06\/a-usd-50-mn-home-appliances-complex-incoming\/","title":{"rendered":"A USD 50 mn home appliances complex incoming?"},"content":{"rendered":"<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- <\/strong><strong>Royal Home<\/strong><strong> eyes USD 50 mn appliances complex:<\/strong> Local home appliances manufacturer Royal Home plans to establish a USD 50 mn industrial complex for electrical appliances in the Tenth of Ramadan within two years, the company\u2019s CEO told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/03\/04\/1870818\" style=\"\" rel=\"noopener\">Al Borsa<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The hub will have an annual production capacity of 150k units, including refrigerators, deep freezers, air conditioners, fully-automatic washing machines, and stoves \u2014 the company's primary product. Some 70% of the complex\u2019s output will be earmarked for export. The group plans to self-finance 65% of the project's cost, with the remainder to be secured through bank facilities. Negotiations are currently underway with the National Bank of Egypt to obtain the required financing in EGP.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Cardboard producer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.packtech.com.eg\/\" style=\"\" rel=\"noopener\">PackTech<\/a><\/strong> <strong> plans to invest USD 5 mn this year to expand its <\/strong><strong>production capacity<\/strong>, Chairman Alaa El Sakaty told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/03\/05\/1873705\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The company plans to add a new production line at its Badr City facility and boost exports to around USD 15 mn, with plans to expand into the Libyan and Iraqi markets, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REGULATION WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Financial Regulatory A<\/strong><strong>uthority <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0WxwqjLqU36aR2coHJX59DNBiEdeLdXusjgx6G1Jor9FMyLJC57qfUnaxsJF1p1skl?rdid=Pj1VbiwXBd7ZidWS#\" style=\"\" rel=\"noopener\">bumped<\/a><\/strong> <strong> up the limit on microins. coverage<\/strong> to EGP 312.5k from EGP 250k in a bid to safeguard low-income individuals and bolster their ability to invest in small businesses. The move follows the ratification of the Unified Ins. Law, which came into force in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fce0507f-e9c4-4195-a36f-3bf45c30e82a\/\" style=\"\" rel=\"noopener\">July<\/a> introducing new, comprehensive rules for regulating the ins. industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elsewedy <\/strong><strong>Electric to handle half of Hungarian power project construction:<\/strong> Elsewedy Electric will deliver 50% of the engineering works and supplies needed for the EUR 700 mn combined cycle power plant it is building in Hungary, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/401.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Elsewedy Electric was awarded an EPC contract for the plant <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/90fc1506-d3c0-4643-b326-f6f94ef6e0da\/egyptian-real-estate-developer-palm-hills-will-expand-to-abu-dhabi\" style=\"\" rel=\"noopener\">last month<\/a> by MVM Matra Energia, marking Elsewedy Electric\u2019s first venture in Europe. The project is expected to be completed by 2028.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AUTOMOTIVE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>G<\/strong><strong>ov\u2019t alloca<\/strong><strong>tes EGP 1 bn<\/strong><strong> to localize the automotive industry:<\/strong> The Finance Ministry allocated EGP 1 bn in the current fiscal year\u2019s budget to fund the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad6ddaca-2902-4e28-b760-c0cb1225cddc\/ford-discontinues-new-vehicle-sales-in-the-local-market\" style=\"\" rel=\"noopener\">Automotive Industry Development Program<\/a> (AIDP) and attract investments in car manufacturing, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1G4tVDVKUU\/\" style=\"\" rel=\"noopener\">statement<\/a>. The state aims to increase the local component ratio in vehicle production to over 45% this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leading the way is Nissan: <\/strong>Nissan was the first to receive EGP 120 mn in incentives under the program, the statement read. The Japanese auto giant\u2019s popular Sunny model has the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c84e7b9-909f-4c82-9703-4212669a0c7e\/%253cmark%253enissan%253c%2Fmark%253e-egypt-to-invest-usd-45-mn-in-new-locally-assembled-model\" style=\"\" rel=\"noopener\">highest local component ratio<\/a> of any passenger car in the local market and its most recently announced model to be assembled locally will have a local component ratio of no less than 54%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Banque Misr<\/strong><strong> extends EGP 2.6 bn loan to Hyde Park for North Coast project:<\/strong> Property developer Hyde Park Developments lined up a EGP 2.6 bn medium-term loan with Banque Misr to finance part of the investment cost for its <a target=\"_blank\" href=\"https:\/\/www.hydeparkdevelopments.com\/projects\/seashore\" style=\"\" rel=\"noopener\">Seashore<\/a> project, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/414.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The project is located on the North Coast, spans 240 feddans, and will include residential and hotel buildings for sale in addition to commercial units available for rent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">STARTUPS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Investment and portfolio management firm <strong>A V<\/strong><strong>entures upped its stake in waste management <\/strong><strong>sta<\/strong><strong>rtup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/mrkoonapp.com\/\" style=\"\" rel=\"noopener\">Mrkoon<\/a><\/strong><strong> to 28%<\/strong>, following up on its pre-seed backing, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2025\/03\/ventures-raises-stake-mrkoon-boost-expansion-plans\" style=\"\" rel=\"noopener\">press release<\/a>. Markoon will use the new capital to fuel its regional expansion into the GCC. Last summer, A Ventures Chairman Ayman Abbas <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b1%d8%ac%d9%84-%d8%a7%d9%84%d8%a3%d8%b9%d9%85%d8%a7%d9%84-%d8%a3%d9%8a%d9%85%d9%86-%d8%b9%d8%a8%d8%a7%d8%b3-%d9%8a%d8%b3%d8%aa%d8%ad%d9%88%d8%b0-%d8%b9%d9%84%d9%89-20-%d9%85%d9%86-%d9%85\/\" style=\"\" rel=\"noopener\">acquired<\/a> a 20% stake in Mrkoon in a EGP 2 mn transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on Mrkoon: <\/strong>Founded in 2022, Markoon is a B2B platform that helps industrial and manufacturing businesses offload surplus materials and scraps.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS- The Financial Regulatory Authority bumped up the limit on microins. coverage<\/p>\n","protected":false},"author":1,"featured_media":661870,"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":[7209],"tags":[111,144,576,152,93,72,76,684,131,2532,83],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-661869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-automotive","tag-banque-misr","tag-elsewedy-electric","tag-energy","tag-enterpriseam","tag-financial-regulatory-authority","tag-hungary","tag-manufacturing","tag-nissan","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"19cc2518-7676-4e87-affd-a0c57c863204","order":"11","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/459.jpg","photo_position":"above","homepage_title":"","full_issue_title":"A USD 50 mn home appliances complex incoming?","related_issue":[661851],"teaser":"PLUS- The Financial Regulatory Authority bumped up the limit on microins. coverage","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.6dcec655-85ee-4d24-a604-28075efb4cc1.mp3"},"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>A USD 50 mn home appliances complex incoming? 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