{"id":704510,"date":"2026-05-21T00:00:00","date_gmt":"2026-05-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=704510"},"modified":"2026-05-21T02:57:22","modified_gmt":"2026-05-21T02:57:22","slug":"leoni-lines-up-eur-80-mn-for-new-electric-cables-and-wiring-facility","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/21\/leoni-lines-up-eur-80-mn-for-new-electric-cables-and-wiring-facility\/","title":{"rendered":"Leoni lines up EUR 80 mn for new electric cables and wiring facility"},"content":{"rendered":"

The Egyptian arm of Germany\u2019s Leoni will set up a EUR 80 <\/strong>mn <\/strong>industrial complex in Badr City by 2028<\/strong>, as the company scales up its production of wiring harnesses and electric cables for both conventional and electric vehicles, Managing Director Sherief El Dessouky told the Arabic press<\/a>. The new complex will double the company\u2019s current production capacity of 100k wiring harnesses per day.<\/p>\n

Why it matters:<\/strong> The move directly supports the National Automotive Industry Development<\/a>Program\u2019s<\/a> target of a 60% local component ratio. It\u2019s also a data point in a quiet but intensifying North Africa supply chain rivalry: Morocco \u2014 including Leoni\u2019s own recently launched<\/a> commercial vehicle wiring plant in Agadir \u2014 is positioning itself as a lean export gateway to Europe, while Egypt is banking on its labor scale and domestic supplier depth to build something broader.<\/p>\n

DATA POINT-<\/strong> The country\u2019s electrical wiring exports surged 29% last year to USD 752 mn, with Turkey taking the largest slice at 33% (USD 249 mn). Slovakia was the second largest importer of Egyptian electrical wiring at USD 106 mn, followed by the UK at USD 87 mn, Al Arabiya<\/a> reports, citing the UN trade database.<\/p>\n

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Powering the Med pledge<\/p>\n

ExxonMobil and QatarEnergy will explore how to link Cypriot gas <\/strong>discoveries to the country\u2019s energy infrastructure<\/strong> under an MoU<\/a> inked with the Oil Ministry.<\/p>\n

IN CONTEXT-<\/strong> The agreement comes a day after Cyprus set a 2028 target to route offshore natural gas exports to Europe through Egypt<\/a>. While Egypt already holds midstream agreements to transport, process, and liquefy gas from the Eni and TotalEnergies-operated Cronos field (off the coast of Cyprus) at its Damietta plant, looping in ExxonMobil and QatarEnergy expands the government\u2019s prospective processing pipeline.<\/p>\n

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Bonyan sees \u201cstrong start\u201d to 2026<\/p>\n

Real estate inv<\/strong>estment company <\/strong>Bonyan <\/strong>saw its net income rise 42.3% y-o-y <\/strong>in 1Q 2026 <\/strong>to EGP 593.3 mn on the back of robust sales activity and appreciation in the company\u2019s investment portfolio by EGP 800 mn, according to its latest earnings release (pdf)<\/a>. The firm\u2019s top line more than doubled to EGP 370 mn during the three-month period.<\/p>\n

Revenue growth was driven by a successful sales restart at Walk of Cairo<\/strong>, strong rental revenues boosted by repricing, contractual escalations, and new leases.<\/p>\n

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Telecom Egypt opens 2026 with topline surge<\/p>\n

Telecom <\/strong>Egypt <\/strong>saw its net income drop 23% y-o-y in 1Q 2026 <\/strong>to around EGP 3.6 bn on the back of losses linked to the revaluation of foreign-currency liabilities, which amounted to EGP 5.3 bn, according to its latest earnings release (pdf)<\/a>. Barring these losses, the bottom line would have risen around 27% y-o-y to EGP 5.9 bn.<\/p>\n

The firm\u2019s top line rose 14% y-o-y in the same period<\/strong> to EGP 28.2 bn<\/strong> thanks to a modest increase in its customer base. Data revenue made up 69% of total topline growth, jumping 23% y-o-y in 1Q.<\/p>\n

More on our radar:<\/strong><\/p>\n